Markets flip lower as rally fizzles

Markets flip lower as rally fizzles

Lack of weather threat and demand uncertainty hit prices. (audio)

Grain markets are lower across the board this morning, with overnight rally attempts derailed after the latest moves at the Bank of Japan disappointed investors, casting a bearish pall on commodities. While the dollar weakened again on strength in the yen, crude oil was also lower. Lack of a weather threat in forecasts for the next two weeks kept buyers on the sidelines, with soybeans also hurt by net old crop cancellations in Thursday’s weekly export update.

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

Grain markets are lower across the board this morning.

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.

TAGS: USDA
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