Weather concerns lift grain market

Weather concerns lift grain market

Traders expect smaller crops and carryout in today's USDA report. (Audio)

Grain futures are posting modest gains overnight as final position squaring takes place ahead of this morning’s USDA product, supply and demand reports due out at 11 a.m. CDT. Traders expect USDA to make some cuts to the size of the corn and soybean crops, with carryout for corn, soybeans and wheat all lower than the agency’s September estimates. More talk about dry weather in the Black Sea and Australia supports prices and an active wheat export lineup is emerging from North Africa and the Middle East.

You can listen to Bryce's comments using the audio player below.

A little weather, a little position-squaring work to lift prices in overnight trade.

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.

Thriving during the Economic Downturn won't be easy but Mike Boehlje, Purdue University ag economist, and Farm Futures Summit speaker shares his thoughts in a new webinar. Watch the playback of Managing Your Farm Business in an Economic Downturn.

TAGS: USDA
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