Record Slow Planting Keeps Grain Futures Firm

Record Slow Planting Keeps Grain Futures Firm

May contracts go off the board today reflecting red-hot cash market for corn and soybeans. (Audio)

Temperatures are warming up across the Midwest today, and the markets are also getting hotter. Corn planting progress is the slowest on record after a cold, wet spring, keeping traders nervous about new crop production. Remaining inventories of 2012 corn and soybeans are extremely tight, creating potential for volatile trading today in May futures as they go off the board.

Farm Futures Senior Editor Bryce Knorr talks markets with Pam Jahnke, Wisconsin Farm Report. Listen to their conversation using the audio player on this page.

SLOW START: With less than one-third of the corn crop in the ground, futures stay firm. Where dry weather has returned, farmers are catching up.

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.

Pam Jahnke is Farm Director of the Wisconsin Farm Report that is carried on 16 stations in Wisconsin.  Known as the "Fabulous Farm Babe" Pam studied broadcast journalism and broad area agriculture at the University of Wisconsin - River Falls. After college, Pam moved into her chosen field, doing farm broadcasting, radio and television, from Green Bay to Eau Claire, WI - and she's never looked back.  Pam often says she feels like farm broadcasting and communicating on behalf of food producers is exactly what she was made for. Pam has been named "Friend of Agriculture" by the Wisconsin Department of Agriculture for her assistance in raising awareness of the "Harvest of Hope" program. She has also served as president of the National Association of Farm Broadcasting.

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TAGS: USDA
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