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Can soybeans hold the line?

Argentine forecast, lagging harvest firm futures.

Soybean futures are trying to hold on to minor gains from a choppy overnight session that has January futures battling chart support. A slower than expected gain in harvest last week lent some support, along with forecasts for a drying trend in Argentina. A relative slow pace of soybean shipments is raising eyebrows about demand as big speculators were only light buyers ahead of last week’s USDA reports.

 

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.

For more corn, wheat and soy news, commodity marketing recommendations and daily commodity charts, subscribe to Farm Futures' free e-newsletter, Farm Futures Daily, and keep up during the day with Farm Futures on Twitter.

 
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