Prices are weaker across the board as the overnight session begins to wind down. December corn made new three-year lows overnight, slammed by reports EPA is proposing to cut the renewable fuels standards for the biofuel. Soybeans succumbed to chart weakness, with harvest pressure keeping the lid on rallies. Wheat prices are also lower, with lack of fresh export deals weighing on prices.
Senior Editor Bryce Knorr offers his insight into overnight trade, listen using the audio tool on this page.
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.Check out a new FREE report that offers an in-depth look at Cover Crops: Best Management Practices. The 32-page report offers an in-depth look at this crop management enhancement.