A disappointing finish in wheat on Tuesday was followed by more weakness early in the overnight session, but prices bounced back once Asia trade wrapped up. Concerns about weather in the U.S. and parts of South America continue to provide support, along with no indication that strong demand for soybeans is letting up. Forecasts are showing hopes for at least a little moisture on the Plains over the next two weeks, which could help stressed hard red winter wheat fields.
Farm Futures Senior Editor Bryce Knorr offers an early look at overnight trade.
You can listen to his commentary by clicking on the audio link on this page.
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.
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