While federal government offices, including USDA, are closed for Columbus Day, markets are open, and not in a good mood.
Grain futures attempted to extend last week’s rally at the start of trading Sunday night but the effort fizzled, with red ink across the board in corn, soybeans and wheat this morning. Losses are minor compared to the downturn on financial markets around the world as Wall Street faces a major test on price charts.
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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.