Wheat attracts follow-through buying

Wheat attracts follow-through buying

Weather and short covering lift futures to start week's trade. (Audio)

Grains futures are trying to prove last week’s late turnaround higher was no fluke, posting more gains as trading got underway for the week in Asia and Europe. Concerns about weather for the winter wheat crops in the U.S. and Russia helped drive follow-through buying, as big speculators scrambled to buy back short positions.

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.

Weather, speculators keep upward pressure on prices.

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.

TAGS: USDA Wheat
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