Wheat higher after weekend cold snap

Wheat higher after weekend cold snap

Temperatures plunge over southwest Plains. (Audio)

Wheat prices are higher this morning, finding support after temperatures were much colder than expected this weekend over the southwest Plains. Temperatures dipped to as low as 15 to 20 degrees in the Texas-Oklahoma Panhandle, putting early emerging fields at risk. Grain markets could also find some support from Wall Street, which looks poised for a firm open after early profit taking turned around.

Knorr shares market insights from overnight trade and you can listen using the audio tool on this page (just scroll down).

WEATHER WATCH: Overnight trade, spooked by cold snap, starts buying wheat.

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. And you can follow Farm Futures throughout the day on Twitter at www.twitter.com/farmfutures.

TAGS: USDA
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