Farm Progress

Futures can't hold early rally overnight

Energy market and exporters brace for Harvey impact. (Video report)

August 28, 2017

1 Min Read

Grain futures tried to rally Sunday night but couldn’t hold early gains. While traders assess the impact of Harvey’s torrential rains on wheat exports out of the Texas Gulf, gasoline and diesel prices are sharply higher as refineries remain closed. The storm shouldn’t have a significant impact on U.S. grain production, but cotton is up almost $1 a pound as fields in Texas and Louisiana are a risk.

Check out Bryce's comments in a special Facebook live post below. Note this is from our new Facebook page at facebook.com/farmfutures. On that page we'll be posting new alerts and other updates regularly.

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. He also produces regular outlook reports on basis, energy, fertilizer and financial markets and feature price forecasts for key crop inputs.

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