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Wet Forecast Extends Grain Futures Rally Overnight

Dismal USDA planting progress report in the U.S. isn't the only weather problem around the world as the market's surge higher holds. (Audio)

Published on: Apr 30, 2013

Corn planting is off to its slowest start in 30 years, just one of a series of weather problems around the world that have the futures market on fire. Old crop corn, which locked up its daily trading limit Monday, extended gains overnight on forecasts for more heavy rain and cold weather in the Midwest this week. Cold weather is also an issue in Europe, while dry weather is starting to threaten the wheat crop in Australia.

Farm Futures Senior Editor Bryce Knorr talks markets with Pam Jahnke, Wisconsin Farm Report. Listen to their conversation using the audio player on this page.

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.

WEATHER BUMP: Its not just U.S. delayed planting thats pushing up prices, theres trouble elsewhere too.
WEATHER BUMP: It's not just U.S. delayed planting that's pushing up prices, there's trouble elsewhere too.

Pam Jahnke is Farm Director of the Wisconsin Farm Report that is carried on 16 stations in Wisconsin.  Known as the "Fabulous Farm Babe" Pam studied broadcast journalism and broad area agriculture at the University of Wisconsin - River Falls. After college, Pam moved into her chosen field, doing farm broadcasting, radio and television, from Green Bay to Eau Claire, WI - and she's never looked back.  Pam often says she feels like farm broadcasting and communicating on behalf of food producers is exactly what she was made for. Pam has been named "Friend of Agriculture" by the Wisconsin Department of Agriculture for her assistance in raising awareness of the "Harvest of Hope" program. She has also served as president of the National Association of Farm Broadcasting.

We're offering a new free report - Baling Up Hay-Making Costs: A Buyer's Guide - ahead of forage season. Check it out.