Grain Futures Choppy Overnight

Grain Futures Choppy Overnight

Grain traders wait for a new month and a new forecast, as July ends on a cool, wet note. (Audio)

Chicago isn’t the only place in the world for grain traders, but a damp dreary morning pretty much sums up both the weather and market as Wednesday dawns. With little news to swing prices, traders appear to be content to square positions for the end of the month, with the clock ticking also until the Federal Reserve releases its latest statement on monetary policy 1 p.m., Chicago time.

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

MARKING TIME? Traders squaring positions for month end, and waiting on word from the Fed.

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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