Did debate help grain market?

Did debate help grain market?

Stock rally fades quickly on European woes but crop prices focus on floods. (audio)

Much was made about a rally on stock markets during Monday night’s presidential debate, but gains were short-lived. Concerns about big troubles at two German companies dragged down financial markets once trading started in Europe. Crude oil also turned lower when OPEC’s attempt to curb production fell flat. Grain futures are trying to hold on to gains that have nothing to do with politics. Futures started higher and mostly stayed there overnight on concerns about the slow pace of harvest caused by torrential rains in parts of the western Midwest.

Senior Editor Bryce Knorr offers his insight into overnight trade, listen using the audio tool on this page.

Grain futures are trying to hold on to gains that have nothing to do with politics.

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.

TAGS: USDA
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