August 2, 2017
Short covering and bargain hunting helped lift the grain market overnight following Tuesday’s big selloff. Production estimates are beginning to hit the trade ahead of next week’s USDA report, providing support for corn. Crop ratings, weather and vegetation models all point to yields that are lower than the trend forecast used by USDA this year. Lack of a weather threat in forecasts for the next two weeks is keeping the rebound modest so far.
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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. 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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