Grain Futures Drift Overnight

Grain Futures Drift Overnight

Options expiration and demand reports in the mix today. (audio)

Corn tried and failed to mount a rally overnight after Tuesday's bullish reversal higher from new three-year lows.  Instead, follow through buying appeared to run into a brick wall shortly before 5 a.m., as December futures approached $4.20. December options go off the board Friday, huge put open interest still in play. The U.S. won part of a corn tender from South Korea today, with ethanol production from last week expected to remain good.

Listen to the report using the audio link on this page.

Options expiration and demand reports in the mix today

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, 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.

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