Thursday marked the start of a new month, but the story was the same as far as grain futures were concerned. More selling drove prices lower, though there was really very little fresh news to cause the downturn. Traders are penciling in big corn and soybean crops into their balance sheets, and that bearishness spilled over to wheat as well. Competition across all three markets is increasing around the world, one reason why buyers are picky.
Farm Futures Senior Editor Bryce Knorr and Market Analyst Paul Burgener talk over the outlook for August, and beyond.
Bryce Knorr, Senior Editor, Farm Futures, first joined Farm Progress Cos. in 1987. In addition to analyzing and writing about the commodity markets, he is a former future 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 Market Review on FarmFutures.com, he writes weekly reviews for key commodities and crop inputs. A journalist with 38 years of experience, he received the Master Writers Award from the American Agricultural Editors Association.
Market Analyst Paul Burgener is a new addition to the Farm Futures team but has a solid ag economics history. A former University of Nebraska research coordinator and ag economist from the University of Wyoming, Burgener brings a lot of background to his new role. Most recently, he was also involved in agricultural finance, and will offer that perspective in future articles on the Web and in print too.