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Weather cuts both ways for market overnightWeather cuts both ways for market overnight

Drier forecast could help corn planting after freeze scare for wheat. (video)

April 28, 2017

1 Min Read

Grain markets are trading mixed this morning after an overnight session made choppy for a host of reasons. Heavy deliveries in corn and soybeans were made today, with wheat also put out against all three May contracts. A hint at drier weather in the second week of outlooks weighed a little on corn, with potential for warmer temperatures finally creeping into the forecast. Cold weather this weekend is a concern for wheat, though temperatures don’t look like they’ll get cold enough to cause widespread damage. Financial markets are also cautious, with first quarter GDP data out this morning as Washington tries to avert a government shutdown. Markets will close Monday for May Day in many parts of the world, lending to the uncertain mood.

Senior Editor Bryce Knorr offers his insight into overnight trade, listen using the audio tool on this page.

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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