Dry Forecast Sparks More Gains

Dry Forecast Sparks More Gains

Grain futures dismiss profit taking with threat rising for pollination window. (Audio)

Grain futures spent the first part of the overnight session digesting big gains from the first two days of the week, then resumed their rally after trading began in Europe. Buying intensified after the latest computer models turned significantly drier from Iowa into Illinois and the eastern Corn Belt, reinforcing the trend already seen in the southwest part of the growing region. Weather and volatile old crop contracts are diminishing interest in USDA’s latest crop report, due Thursday.

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

WEATHER MARKET: Traders zero in on precipitation forecasts.

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 Soybean
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