Futures mixed in pre-holiday trade

Futures mixed in pre-holiday trade

Corn firms despite mix-up in export report. (audio)

Choppy, pre-holiday trade continues on Friday, as traders close positions and get out of town for the Memorial Day weekend. Corn is showing the best form, posting modest gains. The trade ignored a mistake by USDA in announcing a sale of old crop corn. The government originally listed the buyer as China, which has taken very little corn from the U.S. this year. The deal was then changed to “unknown destinations,” reinforcing ideas demand is strengthening due to the smaller crop in Brazil.

Listen to the report using the audio link on this page.

Choppy, pre-holiday trade continues on Friday. (Photo: maciek905/Thinkstock)

Senior Editor Bryce Knorr 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.

For more corn, wheat and soy news, commodity marketing recommendations and daily commodity charts, subscribe to Farm Futures' free e-newsletter, Farm Futures Daily, and keep up during the day with Farm Futures on Twitter.

TAGS: USDA
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