Futures are still trading higher after the pit open this morning in Chicago, but traders there aren't embracing the overnight rally has anything more than bargain hunting after this week's heavy losses. Crude oil is sharply lower on an increase in supplies reported this morning, but ethanol production was up 18,000 barrels a day in the latest week.
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Bryce Knorr, Senior Editor, Farm Futures, first joined Farm Progress Cos. in 1987. In addition to analyzing and writing about the commodity markets, he is a former future 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 Market Review on FarmFutures.com, he writes weekly reviews for key commodities and crop inputs. A journalist with 38 years of experience, he received the Master Writers Award from the American Agricultural Editors Association.
Rally fades ahead of the pit open, with floor not biting on bounce.