Futures jump despite global gloom

Futures jump despite global gloom

Bullish USDA reports and hot U.S. weather send grain prices higher. (Audio)

While financial markets continue to stress over economic growth and the looming vote in Britain about leaving the European Union, in the grain markets it’s summer. That means futures are doing their best to ignore the global angst, trading hot weather and bullish USDA supply forecasts. New crop corn and soybeans made new highs overnight, though they’re fading gains a little on a strong dollar and weak stock markets around the world.

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

Overnight trade pushed corn, soybeans to new highs, though global trade is having an impact.

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
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