Delivery Could Stir Quiet Holiday Market

Delivery Could Stir Quiet Holiday Market

Large open interest looms as a factor in corn ahead of Thanksgiving. (Audio)

Friday will only be a half day of trading, but first notice day for December futures contracts could bring additional tension to the holiday market. Large open interest in corn must be rolled this week and many of those positions likely are bearish bets by speculative hedge funds. No contracts are registered for delivery in corn so far, despite record production, reflecting strong basis caused by tight farmer holding that’s providing some unexpected marketing opportunities.

Farm Futures Senior Editor Bryce Knorr talks about the markets with Mick Kjar, Valley News Live TV, Fargo.

You can listen to his commentary by clicking on the audio link on this page.

TIMING: Short-day Friday could be interesting with first notice day for December looming.

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.

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TAGS: USDA
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