Wheat helps market post more gains Friday morning

Wheat helps market post more gains Friday morning

Concerns rain damage to winter wheat and weaker dollar boost futures. (Audio)

Markets are moving higher this morning, paced once again by wheat and receiving additional strength from profit taking in the dollar. A major storm system is slowly moving across the southern Plains, with heavy and potentially damaging rains forecast for parts of Texas and Oklahoma. Rain could also cause additional harvest delays and quality concerns for soft red winter wheat in the Delta as traders get ready for the three day Memorial Day weekend.

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

Weather worries boost wheat prices overnight with a boost from the dollar too.

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 Wheat
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