Futures Quiet Overnight As Plains Heat To End

Futures Quiet Overnight As Plains Heat To End

Profit taking and consolidation rule markets ahead of demand news, USDA reports Friday. (Audio)

Futures are mostly lower this morning, but working off overnight lows, with July corn turning slightly higher as the electronic only session begins to wind down. One more day of hot temperatures are forecast for the southern Plains before readings cool off, though limited chances for precipitation are seen across the southwest edge of the hard red winter wheat belt. Demand news is also filtering into the market, with a few wheat tenders seen and ethanol production figures from last week due out at 9:30 today.

Senior Editor Bryce Knorr offers his insight into overnight trade, listen using the audio tool on this page.

Profit taking and consolidation rule markets ahead of demand news, USDA reports Friday

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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