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Soybeans try for chart breakout

Dry weather in Argentina sparks buying.

Dry weather in Argentina spurred more buying overnight in soybeans but bulls couldn’t hold an attempt at a chart breakout. Short-covering continues to provide support for corn and wheat, though both crops face a lot of competition for exports around the world. U.S. stock index futures gapped to new records ahead of the open on Wall Street following Friday’s volatile session.

 

Senior Editor Bryce Knorr 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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