Selling In Europe Deflates Rally

Selling In Europe Deflates Rally

Follow-through from Friday runs out of gas with downturn in wheat. (Audio)

Grain futures finally found some footing last week thanks to strong demand for soybeans, but hopes for gains in wheat ran into a brick wall in Europe this morning, reversing that market lower. Cool, dry weather is a mixed blessing for crops, as traders begin to finalize estimates of corn and soybean production ahead of the Aug. 12 USDA report.

Farm Futures Senior Editor Bryce Knorr talks about the markets with Mick Kjar, Valley News Live TV, Fargo.

You can listen to his commentary by clicking on the audio link on this page.

Follow-through from Friday runs out of gas with downturn in wheat

Senior Editor 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.

Turn your smartphone into a weed identification tool with the new app Ag Weed ID. Filled with helpful photos, the app helps you identify weeds early for best control results.

TAGS: USDA
Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish