Grain markets this morning are licking wounds from Friday’s bearish USDA stocks reports, trying to hold a little higher. While huge supplies hang over prices, stronger basis for corn and soybeans in the export pipeline last week was a positive note. Rains working through the Midwest and Plains this week could slow harvest, keeping hedge pressure from overwhelming futures as well. Outside markets are on a roll, supported by agreement to fold Canada into a trade deal with the U.S. and Mexico to replace NAFTA.

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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.