Many futures contracts were already under pressure this week, when USDA added more feed for the bears. The agency’s updated statistical forecasts for 2013 called for big corn and soybean crops, and sharply lower prices in the year ahead. Soybeans were able to resist selling pressure, because traders still worry about shortages of soybeans if problems in South America slow arrival of new production on to the world market. Senior Editor Bryce Knorr and market Analyst Paul Burgener go over the USDA forecast, and its aftermath. Watch the conversation using the video link below.
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.