Markets ready to retrench into holiday

Markets ready to retrench into holiday

Traders try to judge impact of cool, wet weather on crops. (Audio)

The dust is still settling from this week’s big USDA reports as markets get ready for the Independence Day break. With an early closing at noon today, activity already has a holiday feel. Prices are mostly lower, with wheat again suffering most of the damage, amid reminders of competition on world markets. Hot weather over in Western Europe is getting a little attention, but not enough to reignite the rally going so far.

Knorr discusses overnight market moves with Bryant Gill, sitting in for Pam Jahnke, Wisconsin Farm Report, and you can listen using the audio tool on this page (just scroll down).

Traders take on a 'holiday mindset' in overnight. Prices mostly lower with wheat taking most of the damage.

Senior Editor 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. And you can follow Farm Futures throughout the day on Twitter at www.twitter.com/farmfutures.

Making sense of new technology and how it can be put to work on your farm will be important for the future. Check out this webinar recording of The More You Know, the More You Grow

TAGS: USDA
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