Traders expected USDA to sharply lower its estimate of 2012 corn and soybean production today, and that’s just what the agency did. The result means price rationing to keep supplies low, a process that is already playing out. Senior Editor Bryce Knorr breaks down the numbers, and the market’s reaction to them today.
In a special report from the August 10 crop report, Bryce Knorr offers his look at the report. Watch his interpretation in the video on this page.
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.