Corn and soybeans are higher in overnight trade while wheat is mixed as the market tries to hold on to the bullish enthusiasm generated by Friday’s USDA report. Though some of the rally was caused by short-covering, the government’s decision to lower its estimate of 2015 corn production raised hopes the size of the crop could get smaller in the weeks ahead. Outside markets are also trying to move beyond the troubles in China, with all eyes on the Federal Reserve, which begins a two-day meeting Tuesday.
Senior Editor Bryce Knorr offers his insight into overnight trade, listen using the audio tool on this page.
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.