Grain futures are mixed this morning, trading off overnight highs as a softer tone to financial markets was seen in Europe. While Wall Street waits for a flood of data, capped by the May jobs report on Friday, Ag traders debate USDA’s first crop ratings for corn due this afternoon. After a wet May in many areas, June looks to be drier, but cooler in most areas too.

Knorr shares market insights from overnight trade and you can listen using the audio tool on this page (just scroll down).

Overnight trade weakens as traders turn focus to weather and that new crop.

Senior Editor 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. And you can follow Farm Futures throughout the day on Twitter at www.twitter.com/farmfutures.