Corn rally takes a breakCorn rally takes a break

This week’s rally showed signs of running out of gas overnight as overbought markets took a breather with some position squaring possible into the Memorial Day weekend. A series of storms sweeping through the growing region should make corn planting difficult, amid reports of a $2 a bushel tariff compensation payment for soybeans that could drive more acres to that crop as farmers ponder their choices.

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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.