Storms are barreling through Chicago this morning, but forecasts for above normal temperatures and below normal precipitation next week as the corn crop pollinates has the markets steaming higher Monday. While some of the buying appears to be short covering from funds liquidating bearish bets, big speculators are bullish on hard wheat, waiting for USDA’s first official estimate from the dry northern Plains due Wednesday. Financial markets are also higher, though crude oil remains hard-pressed to find friends.

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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.