After a big rally on Monday the wheat market is holding on to most of its gains, with corn and soybeans also fairly firm in quiet overnight trading. Concerns about the health of the wheat crop in the U.S. and Former Soviet Union spurred buying yesterday that triggered more technical gains. Gold and crude oil are paring yesterday’s gains after both commodities broke sharply then reversed higher.
Senior Market Analyst Bryce Knorr offers his insight into overnight trade, listen using the audio tool on this page.
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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.