Thursday’s sharp selloff wasn’t repeated in the overnight session today, with grain futures trying to hold the line on further selling. Corn, soybeans and wheat are all posting inside days, and there’s little fresh news for traders to absorb. Forecasts for cool and at times wet conditions over the next two week are mostly seen as beneficial, and the first of the private sector estimates of corn production are calling for big crops when USDA reports Aug. 12. Wall Street is bracing for this morning’s July jobs report, after stock prices moved into record territory Thursday.
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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