After breaking support on price charts markets are trying to stabilize today. While the mood on outside markets darkened a bit following yesterday’s run to record highs on Wall Street, the news flow for crops is better. Export sales of both corn and wheat were noted overnight to go along with a positive report on export inspections Tuesday. Traders are also waiting for USDA’s annual outlook conference to begin Thursday, when the agency will update its forecast for 2017 acreage.

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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.