Grain markets moved higher overnight as traders make final bets before USDA reports due out at 11 a.m. CST. The government updates Sept. 1 inventories and also releases another estimate of wheat production. The marketing-year-end estimates for corn and soybeans sometimes produce surprises, with potential for the 2018 soybean crop to be smaller than previously reported. Weather continues to deteriorate on the northern Plains, making today’s estimate of spring wheat production closely watched as well.
Watch the latest Facebook video posting from Bryce Knorr and be sure to like or follow the Farm Futures Facebook page.
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.