The grain market is mostly lower this morning, with another surge in the dollar adding to pressure from bearish supply and demand fundamentals. The greenback’s trade-weighted index filled a gap from back in September 2003 on follow-through buying spurred by the decision of the European Central Bank to embark on a massive program of quantitative easing. That made U.S. wheat even less competitive with European wheat into key markets. Soybeans suffered as rains look like they’ll ease shortages in dry areas of Brazil over the next week.
Senior Editor Bryce Knorr offers his insight into overnight trade, listen using the audio tool on this page.
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.