After trading USDA’s latest tariff aid package Thursday, markets returned their focus to weather overnight, and the results were much more positive for farmers. Prices rallied as the first of a string of storms headed towards Chicago that will keep the Mississippi River closed until June and likely mean growers abandon plans to plant some corn acres. Memorial Day is often a turning point for grain markets, prompting more position squaring today.
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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.