Traders squaring positions aren't running into many buyers this morning, sending prices lower across the board as the market gears up for the end of the fiscal year on Friday, when USDA also releases grain stocks and wheat production reports. Harvest pressure and an absence of news about demand are also bearish, with France expected to win this morning's snap tender out of Egypt.
Listen to the report using the audio link on this page.
Bryce Knorr, Senior Editor, Farm Futures, first joined Farm Progress Cos. in 1987. In addition to analyzing and writing about the commodity markets, he is a former future 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 Market Review on FarmFutures.com, he writes weekly reviews for key commodities and crop inputs. A journalist with 38 years of experience, he received the Master Writers Award from the American Agricultural Editors Association.