A quiet grain market overnight roared back to life shortly before 4 a.m. this morning. These early pops are not unusual, sometimes indicating a move by a fund or reaction to a news headline. Today’s jump happened after reports Russia plans to regulate grain prices, triggering worries that could lead to lower exports, a concern that’s surfaced from time to time over the fall and winter but never materialized. Outside markets also moved higher around the world today, buoyed by the hopes of a breakthrough in the trade war between the U.S. and China ahead of Monday’s market closing for observance of the Martin Luther King Jr. holiday.
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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.