Futures were lower in overnight trading until markets opened in Europe, when corn and wheat started to pull higher. Soybeans are also trying to turn around, after seeing fairly steady selling earlier. Forecasts for heavy rains in Iowa in the 7-day outlook appear to be offsetting concern about lost demand from bird flu, though storms could help a struggling hard red winter wheat crop on the central Plains.
You can listen to Bryce's comments using the audio player below.
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.
Thriving during the Economic Downturn won't be easy but Mike Boehlje, Purdue University ag economist, and Farm Futures Summit speaker shares his thoughts in a new webinar. Watch the playback of Managing Your Farm Business in an Economic Downturn.