While traders in the U.S. get ready for Wednesday’s monthly production, supply and demand reports from USDA, markets aren’t standing still overseas, giving a lift to futures overnight. In addition to a big rally in Chinese soybeans, wheat gained in Europe and Australia due to dry conditions. Basis in the cash market remains weak for corn and soybeans but at least beat the roll from September to December thanks to good demand from both processors and exporters.

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.

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