Corn futures are trying to bounce back from Monday's break to new three-year lows, with light buying noted overnight. After the EPA lowered the Renewable Fuels Standard for corn on Friday, the market got another dose of bearish news Monday, when China rejected a load of U.S. corn because it contained samples of an unapproved GMO variety. Neither development is likely to hurt demand into 2014, but set the market back on its heels psychologically.
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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.