Grain Futures Finally Get Bounce

Grain Futures Finally Get Bounce

Short covering and drier outlook trigger buying overnight. (Audio)

After days of grinding lower, crop prices are trading higher across the board this morning with steady buying seen in light volume. Forecasts for much of the central Corn Belt look drier for the next week, while traders are also squaring positions ahead of the weekend and Monday’s big USDA crop report. Farm Futures and other analysts forecast big crops and rising ending stocks, though there’s still plenty of growing season left for that to change.

Farm Futures Senior Editor Bryce Knorr talks markets with Kelsey Ostby at the Wisconsin Farm Report, who is filling in for Pam Jahnke. Listen to their conversation using the audio player on this page.

COVERING THEIR SHORTS: Traders are squaring positions ahead of Monday's big USDA report.

Senior Editor 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. And you can follow Farm Futures throughout the day on Twitter at www.twitter.com/farmfutures.

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TAGS: USDA
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