Futures opened with gains Monday evening and are holding the advance as the overnight sessions begins to wind down ahead of the pit open in Chicago. Soybeans are leading the market higher, thanks to strong demand reported last week and no end to concerns over dry conditions emerging in Argentina and southern Brazil. Export markets are generally quiet so far, with Australia reported to be aggressively offering wheat to the few small tenders that are springing up.
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.
And check out www.DatelineDrought.com, which is focused on moving into 2013 after the devastating 2012 Drought and includes links from the Farm Progress family of magazines on a wide range of drought and farm management topics.
And we're offering a new free report - Five Post Drought Strategies for a Better 2013 - filled with a wide range of information you can use in your operation. Check out the link today for the free download.