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Choppy markets start USDA countdown

TAGS: Weather
MarketMultipleExposure011717 scyther5/ThinkstockPhoto
Warm, wet forecasts is mixed blessing. (audio)

Grain futures are steady to lower after a choppy overnight session that has the market trying to hold on to momentum from Tuesday’s turnaround rally. A return to wet weather in the Midwest provides support, but also will create good conditions for field that are planted. Caution generally prevails as the trade waits for USDA’s monthly report on Thursday. Crude oil moved to another 3 ½-year high overnight after President Trump as expected pulled the U.S. out of the Iran nuclear deal.

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 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.

For more corn, wheat and soy news, commodity marketing recommendations and daily commodity charts, subscribe to Farm Futures' free e-newsletter, Farm Futures Daily, and keep up during the day with Farm Futures on Twitter.

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