The stock market sold off late on Wednesday, despite an upbeat assessment of the economy and no surprises from the central bank’s latest statement on monetary policy. The Fed did raise interest rates, but that was seen as a done deal before the meeting this week. Investors may just be taking profits ahead of nervous moments in Washington and the end of the third quarter Friday. Grain traders may have a similar mentality today, waiting for release of Friday’s Sept. 1 grain stocks data and today’s export numbers.

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.comhe 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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