Grain futures are modestly higher across the board this morning, getting a little bounce after yesterday's sharp selloff. Bulls headed for the exits at once Thursday, fueled by profit taking in soybean caused by weak charts, poor exports and talk of imports. The wheat tour confirmed problems in Kansas, slashing their estimate of production 18% in the key state. Weather is improving for corn planting, but farmers in northern and eastern areas could continue to dodge showers into next week.
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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.