Wheat Paces Overnight Rally

Wheat Paces Overnight Rally

Grain futures see steady buying overnight bringing prices towards three-week highs. (Audio)

Buyers are out in force this morning, giving a boost to corn, soybeans and wheat, with prices for all three crops taking aim at the top of October ranges. Wheat leads the way with double digit gains fueled by ideas of tightening global supplies caused by a series of weather problems. While USDA cancelled its October production, supply and demand report, traders are bracing for release of a slew of export data that could show strong demand.

Senior Editor Bryce Knorr offers his insight into overnight trade, listen using the audio tool on this page.

BUYERS AT WORK: Overnight trade pushes prices higher for corn, soybeans and wheat.

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 Soybean
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