Crop prices took a beating on Thursday, when rain fell across the Corn Belt north of I-80. Disappointing new crop export sales reinforced the downturn, but grain futures rebounded overnight. Cautious and perhaps choppy trade could be seen on Friday, ahead of forecasts for very hot and dry weather into the end of the month. September options also stop trading today.
Senior Editor Bryce Knorr offers his insight into overnight trade, listen using the audio tool on this page.
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.
WEATHER MARKET: Rains in the Corn Belt and lower new crop exports weigh on prices Thursday, but rebound in overnight trading.
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