It’s a 24/7 world, so even though U.S. markets remain closed until 8:30 a.m. CT, exchanges in Asia and Europe were setting what appears to be a lower trend for the oilseed complex today. Bid/Ask spreads posted already in on the U.S. screen also suggest a weaker open today, which could take November futures below chart support around $11.33. Corn is also leaning to the downside, but wheat may find support from rain harvest weather stretching from France to Russia.
Farm Futures Senior Editor Bryce Knorr talks about the markets with Mick Kjar, Valley News Live TV, Fargo.
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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