Traders tend to approach USDA’s quarterly grain stocks reports with caution. Most of the time these numbers are ho-hum, but sometime they produce big surprises, and the direction of moves are hard to predict. Adding to caution today are financial markets that remain nervous about the future of Germany’s biggest bank, which weighed on trade in Europe again overnight. End of the month and quarter position squaring could also be seen.
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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.