Weather Gives Markets Boost Overnight

Weather Gives Markets Boost Overnight

Frost doesn't cause widespread damage but rains lower harvest hedge pressure. (Audio)

Grain futures are higher across the board this morning, getting a leg up from chart-based buying and weather. Rains last week slowed both harvest and hedge pressure from elevators buying grain off the combine, though frost over the weekend likely caused no significant damage to what are expected to be record crops. USDA updates its estimates of production, supply and demand on Friday, also triggering a little position squaring.

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.

Frost doesn’t cause widespread damage but rains lower harvest hedge pressure.

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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TAGS: USDA
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