Corn futures began trading overnight where they left off Friday, posting more gains and rallying to fresh five-year highs. Both old and new crop contracts gapped higher on the start Sunday night and never looked back. With the planting window for corn all but closed, heavy rains are headed to the Midwest this week as farmers may divert 5 million to 7 million acres into prevent plant. Soybean plantings are also in trouble, helping futures to double digit gains.
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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.