Rains trigger follow-through buying overnight

Rains trigger follow-through buying overnight

Remnants of "Bill" will be followed by hot, dry weather in the Southeast. (Audio)

Grain futures are higher across the board this morning, with steady follow-through buying noted overnight on the heels of Tuesday’s move higher. The dollar is weaker as the Federal Reserve begins a second day of deliberations on monetary policy, helping crude oil move sharply higher. The remnants of Tropical Storm Bill are bringing heavy rains to eastern Texas this morning, with the system expected to move up the Mississippi and Ohio River Valleys, raising more concern about whether farmers will be able to plant all their soybean acres in time.

Senior Editor Bryce Knorr offers his insight into overnight trade, listen using the audio tool on this page.

Continued rains bring soybean planting concerns, prices rise overnight.

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.

TAGS: USDA
Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish