Quiet Overnight Markets Attempt Turnaround

Quiet Overnight Markets Attempt Turnaround

Dry forecasts for northern Corn Belt raise a few eyebrows but not prices. (Audio)

Grain futures are trading mixed this morning, after another choppy and quiet overnight session. Traders are digesting forecasts that call for less moisture north of I-70, and trying to figure out what yesterday’s announcement on relaxed advanced biofuels mandates means for ethanol. Forecasts for big corn and soybean crops are pretty much baked into prices, while the countdown to Monday’s USDA reports continues.

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

QUIET OVERNIGHT: Not enough news in crop conditions, or elsewhere, to rile the trade.

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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