High water, low dollar support futures

High water, low dollar support futures

Weather and the financial markets are impacting prices. Eyes turn to the Fed too. (Audio)

Grain futures are mixed overnight but off session lows as traders mull impact from this week’s heavy rains. The CME Group declared a “force majeure” Wednesday ahead of the start to July deliveries at the end of the month because no grain can be loaded out along the Illinois River due to flooding. Financial markets are also in play as the dollar declines further after yesterday’s latest meeting about monetary policy at the Federal Reserve. The Fed is still expected to raise interest rates later this year, but not as aggressively as some officials previously wanted.

Flooded rivers and the Federal Reserve to impact trade as overnight lifts from Wednesday lows. Bryce Knorr talks with Pam Jahnke about the markets.

Knorr discusses overnight market moves with Pam Jahnke, Wisconsin Farm Report, and you can listen using the audio tool on this page (just scroll down).

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.

Pam Jahnke is Farm Director of the Wisconsin Farm Report that is carried on 16 stations in Wisconsin.  Known as the "Fabulous Farm Babe" Pam studied broadcast journalism and broad area agriculture at the University of Wisconsin - River Falls. After college, Pam moved into her chosen field, doing farm broadcasting, radio and television, from Green Bay to Eau Claire, WI - and she's never looked back.  Pam often says she feels like farm broadcasting and communicating on behalf of food producers is exactly what she was made for. Pam has been named "Friend of Agriculture" by the Wisconsin Department of Agriculture for her assistance in raising awareness of the "Harvest of Hope" program. She has also served as president of the National Association of Farm Broadcasting.

Making sense of new technology and how it can be put to work on your farm will be important for the future. Check out this webinar recording of The More You Know, the More You Grow.

TAGS: USDA
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