USDA’s supply and demand report for April, out at 11 a.m. CDT today, will focus only on old crop, incorporating data from the agency’s March 1 stocks report. The key numbers to watch could come in corn, where the agency found some 300 million bushels more on hand than trade expectations. If most of that winds up on the bottom line of the leftover surplus for the 2018 marketing year, corn could have trouble rallying despite the approach of another “bomb cyclone” in the western Corn Belt.

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.