Financial markets remain in turmoil today, and a sharply lower stock market could be adding to pressure on soybeans. USDA this morning announced China cancelled an export sale of 4.4 million bushels, with better rains in Brazil overnight also easing concerns about dry conditions there.
The dollar is sharply lower, but that's not providing much lift to wheat, with hard red winter wheat futures making new contract lows.
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Bryce Knorr, Senior Market Analyst, Farm Futures, first joined Farm Progress Cos. in 1987. In addition to analyzing and writing about the commodity markets, he is a former future 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 Market Review on FarmFutures.com, he writes weekly reviews for key commodities and crop inputs. A journalist with 38 years of experience, he received the Master Writers Award from the American Agricultural Editors Association.