Grain market follows financials lower

Grain market follows financials lower

Holiday week is no party for futures market. (Audio)

Many traders around the world are taking a break this week, with Carnivale in Brazil and the Lunar New Year holiday in Asia underway. Markets aren’t celebrating, however, with follow-through selling seen after Friday’s weak trade. Grain markets are lower after breaking chart supports last week, with more selling likely on Wall Street this morning on the heels of Friday’s disappointing jobs report.

Knorr shares market insights from overnight trade and you can listen using the audio tool on this page (just scroll down).

OVERNIGHT SLIDE: With a lot of markets closed for this holiday week, overnight trade opens lower.

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.

TAGS: USDA
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