Shorts head for coverShorts head for cover

Grain futures are headed higher again this morning and they’re joined by other markets as well for a change as traders try to shake off recent bearishness. Still, buying in wheat and soybeans appears to be mainly short covering as volume remains relatively thin overall. Traders are trying to talk about key January reports, even though USDA is expected to officially postpone its scheduled Jan. data dump due to the border wall battle shutting down much of the agency.

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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.