Futures try to hold chart support

Futures try to hold chart support

Grain prices firm overnight after taking a battering this week. (Audio report)

It’s been a crazy week in most markets around the world. Grain futures worked lower after Monday’s USDA reports showed comfortable supplies of corn, soybeans and wheat, but other commodity and financial markets were in even more turmoil. Matters appear to be settling down ahead of a holiday weekend, with U.S. markets closed Monday in observance of the Martin Luther King Jr. birthday.

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

Bruised, battered by the week's trade, grain prices firm overnight.

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
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