June 9, 2017
Today’s monthly supply and demand reports from USDA, due out at 11 a.m. CDT, aren’t expected to produce major news, but profit taking dented grain markets anyway overnight as traders took profits from the June rally. Thursday’s disappointing closes added to the pressure after markets opened in Europe following a setback for the ruling Conservative Party in British elections. Outside markets aren’t showing much reaction to the vote following a worrisome week for Wall Street.
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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.
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