Farm Progress

Crude, weather and dollar combine to firm prices. (Video)

May 22, 2017

1 Min Read

Grain futures saw some follow-through buying overnight following Friday’s gains, with three factors adding strength. The dollar is weaker again this morning as investors around the world opt to take more risk. Crude oil leads those gains ahead of this week’s OPEC meeting, where production cuts likely will be extended into 2018. Wet weather is also providing support with 82% of the Corn Belt suffering from excess moisture.

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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 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.

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