Cautious markets wait for OPEC meeting

Cautious markets wait for OPEC meeting

Storm moving into Plains could bring feast or famine for hard red winter wheat. (Audio)

After another volatile week of trading markets are trying to take a breather Friday, as money managers move to the sidelines to wait for Sunday’s meeting among oil producing nations. Grain trades will be watching radar screens this weekend as well to see if heavy rains producing flooding in hard red winter wheat fields.

 Knorr shares market insights from overnight trade and you can listen using the audio tool on this page (just scroll down).

OPEC takes center stage for traders with oil ministers meeting this weekend; and heavy rain could make or break the hard red winter wheat crop.

Senior Editor Bryce Knorr first joined Farm Futures Magazine in 1987. In addition to analyzing and writing about the commodity markets, he is a former futures introducing broker and is a registered Commodity Trading Advisor. He conducts Farm Futures exclusive surveys on acreage, production and management issues and is one of the analysts regularly contracted by business wire services before major USDA crop reports. Besides the Morning Call on www.FarmFutures.com he writes weekly reviews for corn, soybeans, and wheat that include selling price targets, charts and seasonal trends. His other weekly reviews on basis, energy, fertilizer and financial markets and feature price forecasts for key crop inputs. A journalist with 38 years of experience, he received the Master Writers Award from the American Agricultural Editors Association. And you can follow Farm Futures throughout the day on Twitter at www.twitter.com/farmfutures.

TAGS: USDA Soybean
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