Grain futures are moving lower again as the last hour of the overnight session nears, with follow-through selling sell on the heels of yesterday’s losses. Traders can’t blame Wall Street: Stock index futures are higher. Chart-based liquidation triggered more selling but choppier trade may develop because July options go off the board today.
Farm Futures Senior Editor Bryce Knorr offers an early look at overnight trade. You can listen to his commentary by clicking on the audio link on this page.
And be sure to check http://www.FarmFutures.com after 11 when we start posting information from the USDA report. We'll provide updates as we parse through the information. And you'll get more analysis in the afternoon edition of Farm Futures Daily - our twice-daily e-newsletter. If you want to see it, sign up here.
WALL STREET BOUNCES: However, ag contracts are still soft.
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.
And we're offering a new free report - Baling Up Hay-Making Costs: A Buyer's Guide - ahead of forage season. Check it out.