Grain futures are trying to hold on to gains this morning from follow-though buying overnight on the heels of Monday's rally. The latest Crop Progress report from USDA showed reductions in yield potential for corn and soybeans, especially in the eastern Midwest, with more rain on the way over the next two weeks.
Traders are turning to short-dated new crop options to cover risk, especially in soybeans, ahead of next week's acreage and quarterly grain stocks reports.
Farm Futures Senior Editor Bryce Knorr talks with Pam Jahnke, Wisconsin Farm Report.
Listen to the conversation using the audio link on this page.
Bryce Knorr, Senior Market Analyst, Farm Futures, first joined Farm Progress in 1987. In addition to analyzing and writing about the commodity markets, he is a former future 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 Market Review on FarmFutures.com, he writes weekly reviews for key commodities and crop inputs. A journalist with 38 years of experience, he received the Master Writers Award from the American Agricultural Editors Association.
Pam Jahnke is Farm Director of the Wisconsin Farm Report that is carried on 16 stations in Wisconsin. Known as the "Fabulous Farm Babe," Pam studied broadcast journalism and broad-area agriculture at the University of Wisconsin-River Falls. After college, Pam moved to farm broadcasting and has never looked back. She says communicating on behalf of food producers is exactly what she was made for. Pam has been named "Friend of Agriculture" by the Wisconsin Department of Agriculture for her assistance in raising awareness of the "Harvest of Hope" program. She has also served as president of the National Association of Farm Broadcasting.