There’s an old saying on Wall Street: Don’t fight the Fed. When the Federal Reserve raises interest rates it’s generally back for stocks. Most markets are lower this morning on that same dynamic, as the central bank prepares for its annual conference in Jackson Hole, Wyoming later this week, amid speculation the Fed may lay the groundwork for a hike in December. The dollar is strong, sending stocks, crude oil and gold lower. Corn and wheat are under pressure, too, but soybeans are trying to hold on to gains thanks to strong demand.
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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.