May Day holiday quiets futures overnight

May Day holiday quiets futures overnight

Western Corn Belt farmers race to plant ahead of heavy rains. (Audio)

Grain futures were extremely quiet overnight, in part because many countries around the world observe May 1 as a holiday. Farmers won’t be taking the day off, as they continue planting corn at a feverish pace this week, especially in the western Corn Belt where heavy rains are expected next week. The wet forecast for the first two weeks of May gives corn a little support this morning, though concerns remain about the impact of bird flu on large old crop inventories.

You can listen to Bryce's comments using the audio player below.

Slow markets lead to quiet overnight while corn planting continues at full-speed.

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.

TAGS: USDA
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