October 10, 2016
Grain futures are mixed this morning, with markets open despite closing of the federal government, including USDA offices, for Columbus Day. Lack of fresh news on crop conditions and exports could limit maneuvering in corn and soybeans, as traders adjust positions ahead of Wednesday’s monthly supply and demand estimates. Wheat is seeing some buying today on talk of dry weather for hard red winter wheat. Growers should have generally better conditions for harvest this week, though forecasts for next week turned wetter.
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Overnight trade mixed with USDA offices closed as traders position for Wednesday report.
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.
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