October 2, 2017
While most outside markets are on the upswing today, grain futures couldn’t hold higher at open Sunday night and are drifting lower this morning. Soybeans tried to rally through resistance on concerns about dry weather in South America but reversed lower after the market in China sold off when traders returned from a week-long holiday. USDA offices close today for Columbus day, so regular reports including Crop Progress are delayed until Tuesday. Wet conditions could keep harvest sluggish this week while the market gets ready for Thursday’s updated crop estimates from USDA.
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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.
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