USDA sees rising carryout in 2016

USDA sees rising carryout in 2016

Markets quiet overnight as traders wake up to bearish government forecasts. (Audio)

There were plenty of reasons for selling in corn and soybeans on Thursday, including some bearish comments at USDA’s annual outlook conference. The agency put out more details on its forecast this morning, calling for rising ending stocks in the year ahead. Futures are mostly holding, however, with outside markets around the world benefiting from yesterday’s turnaround on Wall Street

Knorr shares market insights from overnight trade and you can listen using the audio tool on this page (just scroll down).

Overnight trade quiet, but bearish news awaits.

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.

TAGS: USDA
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