Wheat Turnaround Drags Market Lower

Wheat Turnaround Drags Market Lower

Futures try to head into weekend, USDA reports with range bound trade. (Audio)

Short-term momentum was missing in action this week in the grain market, keeping futures stuck in trading ranges. That’s not a real surprise, considering on-going tensions in Ukraine and the approach of long-awaited March 31 USDA reports. Tight supplies support soybeans, weather woes provide a backstop for wheat, while corn acreage and feed usage remain question marks.

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

STUCK: USDA report, and lack of momentum, is keeping grain stuck in a tight trading range.

USDA reports, and global market moves will impact grain trade for 2014. But you can get a jump on risk management planning with our FREE Farm Progress Marketing Webinar set for April 7, 2014. You'll hear from Bryce Knorr, Farm Futures senior market analyst, and Bob Burgdorfor, the new senior editor of Farm Futures.

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.

You can add bushels to your soybean yield with our new free report Boost Your Soybean Yield.

TAGS: USDA
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