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El Nino Debate Doesn't Stir Buying Yet

El Nino Debate Doesn't Stir Buying Yet

Market focuses on short-term weather and chart patterns, sending corn and wheat lower. (Audio)

There’s plenty of talk these days about El Nino, the warming of the equatorial Pacific that’s associated with weather problems in Australia and other parts of the world. But grain traders appear focused on the here and now, using seasonal weakness and a breakdown on price charts to drive wheat and corn lower. Soybeans are still finding support on very tight old crop supplies, while the trade braces for more demand news about exports and crush Thursday morning.

Knorr discusses overnight market moves with Pam Jahnke, Wisconsin Farm Report, and you can listen using the audio tool on this page (just scroll down).

Grain traders aren't thinking about long term weather trends, they're focused on the here and now.

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.

Pam Jahnke is Farm Director of the Wisconsin Farm Report that is carried on 16 stations in Wisconsin.  Known as the "Fabulous Farm Babe" Pam studied broadcast journalism and broad area agriculture at the University of Wisconsin - River Falls. After college, Pam moved into her chosen field, doing farm broadcasting, radio and television, from Green Bay to Eau Claire, WI - and she's never looked back.  Pam often says she feels like farm broadcasting and communicating on behalf of food producers is exactly what she was made for. Pam has been named "Friend of Agriculture" by the Wisconsin Department of Agriculture for her assistance in raising awareness of the "Harvest of Hope" program. She has also served as president of the National Association of Farm Broadcasting.

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TAGS: USDA
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