Most markets around the world are fairly quiet this morning, waiting for results of the latest meeting at the Federal Reserve, which is expected to raise interest rates one-quarter of 1% this afternoon. The grain market isn’t waiting for the Fed, enjoying a round of much-needed buying. Cold temperatures threaten soft red winter wheat fields along the Ohio River this morning, and futures are trying to overcome some initial resistance after widespread selling. Crude oil is also in play today, as traders have doubts about what the latest inventory numbers will show.

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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.