Grain futures are mixed this morning, with only corn able to keep its head a little above water. Wheat and soybeans are lower, with soybeans posting new contract lows overnight after falling through chart support Thursday despite a huge week of export sales.
Hedge pressure could be a force today ahead of what's expected to be a very active weekend for harvest in the Midwest, with no rain in the forecast until next week.
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Bryce Knorr, Senior Market Analyst, Farm Futures, first joined Farm Progress Cos. in 1987. In addition to analyzing and writing about the commodity markets, he is a former future 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 Market Review on FarmFutures.com, he writes weekly reviews for key commodities and crop inputs. A journalist with 38 years of experience, he received the Master Writers Award from the American Agricultural Editors Association.