Futures Mostly Bounce Higher Overnight

Futures Mostly Bounce Higher Overnight

Search for a bottom continues in Chicago, amid light flow of weather and demand news. (Audio)

School’s out for summer, and some traders are apparently taking time off too. Overnight volume was again fairly thin in corn, though the July/November spread in soybeans continues to see volatile trading. The spread reversed higher overnight, allowing July to pop up above $14 again. Three weather systems should bring rain, sometimes too much of, from the Plains through the Midwest over the next week. While that’s mostly good for corn and soybeans, more concerns are surfacing about damage to wheat.

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

Search for a bottom continues in Chicago, amid light flow of weather and demand news

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.

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TAGS: USDA
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