Futures try to extend gains from short-covering rally

Futures try to extend gains from short-covering rally

For better or worse, Plains set for more heavy rains. Trade is watching the weather. (Audio)

Drought is easing on the Plains, but sometimes that comes at a price: heavy rains that can flood fields. Storms are firing up across the Plains this morning, with another wet week ahead for the region. Futures turned higher in Europe after choppy early trading, trying to extend gains from yesterday’s short-covering rally.

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

More wet weather may be good news for drought, but can create flooded fields.

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.

TAGS: USDA Soybean
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