Grain futures started lower overnight but quickly bounced back, and have traded in a fairly choppy fashion for most of the overnight market. A better tone to outside markets is also helping, with fund buying last week in crude oil noted even before OPEC countries agreed on the outline of a deal to cut production. While the eastern Midwest dries out from the storm linger over the Great Lakes last week, the western Corn Belt should see a system that stalls harvest progress there.
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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.