Corn futures posted a breakout on price charts this week, and that has started to attract the attention of fund managers looking for a hot pony to ride. USDA cut its forecast of corn ending stocks in part due to better ethanol usage, with better wheat exports also lending support to grains. But much of this buying may only be short covering from funds that have been bearish since the harvest of big crops.

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.