Big Selloff in Grain Market on Thursday
Outside markets, exports contribute to the accelerated selling.
Compiled by staff
Published: Nov 18, 2011
Outside markets were only partly the blame for Thursday’s big selloff in the grain market. Weak export sales also worked into the mix, especially in corn, with selling accelerating when December futures slipped below the $6.30 level. Markets across the board are trying to stabilize this morning, but cautious trading could prevail into the weekend, especially with a short holiday week ahead punctuated by the report of the congressional "super committee."
To listen to Bryce Knorr and Pam Jahnke discuss the markets on The Wisconsin Farm Report use 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.
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.
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