Markets wobble overnight as rally stalls

Markets wobble overnight as rally stalls

Outside markets come back into play as traders take profits. (Audio report)

The September rally in the grain market took a pause overnight, at least in corn and wheat, which hit chart resistance that triggered profit taking. Concerns about the economy in China are also in play again today, as the Federal Reserve begins a two-day meeting on monetary policy.

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).

Overnight trade steps back as global market action takes precedence again.

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.

TAGS: USDA
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