Wheat prices soared on Thursday thanks mostly to short-covering triggered by a steep drop in the dollar. The greenback suffered after investors voiced disappointment with monetary easing announced by the European Central Bank, which in turn boosted the euro. The dollar is rebound a little today with all eyes on jobs data for November due out at 7:30 CT that could pave the way for the Federal Reserve to begin raising interest rates in a couple of weeks.
You can listen to Bryce's comments using the audio player below.
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.
Thriving during the Economic Downturn won't be easy but Mike Boehlje, Purdue University ag economist, and Farm Futures Summit speaker shares his thoughts in a new webinar. Watch the playback of Managing Your Farm Business in an Economic Downturn.