Grain Markets Slump, Test Support

Grain Markets Slump, Test Support

Key USDA reports loom two weeks away. (Audio)

Corn and soybean futures are testing chart support this morning, after attempts to move higher failed when trading started in Europe Monday. The market is starting to play a waiting game headed into key end of March reports on grain stocks and planting intentions, leaving the path of least resistance lower, while livestock traders mull closure of a pork plant in North Carolina.

Farm Futures Senior Editor Bryce Knorr talks about the markets with Mick Kjar, Valley News Live TV, Fargo.

You can listen to his commentary by clicking on the audio link on this page.

Waiting game for March 31 report has begun, which has the trade stepping back and prices slumping.

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.

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