Wheat Selling Drags Futures Mostly Lower

Wheat Selling Drags Futures Mostly Lower

Traders wait for USDA reports as rain slows planting again. (Audio)

Profit taking is denting the wheat rally this morning, helping keep a lid on corn and soybeans ahead of today’s USDA report. Winter wheat production should be one of the key numbers, as the government releases its first survey of farmers and their fields. Weather took a toll on the crop over the winter and spring, and today’s estimate will be the first hard look at production.

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

Traders wait for USDA reports as rain slows planting again.

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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