Grain futures were mixed overnight, with fairly modest volumes prevailing in a typical trading pattern before a monthly USDA report. The market has baked in a lot of bearishness already into prices, and today's reports won't be based on actual yield survey data for corn and soybeans. Traders are focusing on the agency's yield estimates, along with how data from the June 30 stocks reports is factored into old crop carryout estimates.
Listen to the report using the audio link on this page.
Bryce Knorr, Senior Market Analyst, 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.