Slow development of crops delayed harvest this fall, and now rains in the western part of the growing region are adding to delays. The storms do have one benefit: They should help recharge the river system a bit, which helped push barge freight rates down sharply on Monday, improving basis in some river markets. Futures were very quiet overnight, reflecting markets waiting to see just how big 2017 crops are. In the meantime, volatility in the options markets plunged, making puts and calls relatively cheaper.
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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.