Caution is the watchword across a variety of markets this morning, for a variety of reasons. Minneapolis spring wheat futures, the engine of the June rally in grain futures, are down again following heavy losses Thursday. November soybeans tried to stage a move above $10 overnight but failed to hold that benchmark., while corn is also a little lower. Wall Street waits for the latest jobs numbers out this morning, and crude oil is lower despite a large drop in inventories last week.

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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.