Grain Futures Bounce Back From Losses

Grain Futures Bounce Back From Losses

Light buying kicks in overnight on mostly friendly USDA data. (Audio)

Markets are higher across the board this morning, rebounding from Tuesday’s disappointing session. Wheat is up the most, if only because it lost the most in the wake of bearish supply and demand data from USDA. Traders are watching for results from the latest Egyptian tender, which looks ready to buy Russian wheat. Corn and soybeans got better news from USDA, which cut ending stocks for both crops on better demand. But a trade dispute with China could throw a monkey wrench into those ideas.

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

FRIENDLY: A mostly friendly USDA report offers a positive bump in light trade 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.

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TAGS: USDA
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