Market Consolidates Monday's Surge

Market Consolidates Monday's Surge

Crop ratings fall and hot, dry weather blankets the Midwest. (Audio)

Grain futures are quiet this morning, something that definitely wasn’t true on Monday, when nearby soybean contracts traded for a time up their 70-cent limit. Monday’s crop ratings confirmed deterioration in both corn and soybean crops, with forecasts hot and dry into Labor Day.  Outside markets are under storm clouds from the chemical weapons attack in Syria, sending investors fleeing into safe havens.

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

OUTSIDE FORCES: Crop ratings fall, but global issues impact markets.

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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