Markets Cry 'May Day' Overnight

Markets Cry 'May Day' Overnight

Technical selling in soybeans leads futures lower. (Audio)

While farmers across much of the Midwest are itching to get back into the field, many world markets are closed today for May Day, with the break extending into the weekend for some. Futures are lower across the board, with the weak tone from yesterday carrying over into a very thinly traded overnight session. Warmer and drier temperatures are ahead into the weekend, but rains return next week, keeping the corn market supported by fears of lower acreage and yield potential.

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

HOLIDAY BLUES? Weak markets continue with light trading as global May Day holiday kicks in.

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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