Soybeans got some welcome news this morning when USDA announced the sale of 4.9 million bushels of old crop to unknown destinations, the first large deal hitting the agency’s daily wire for large purchases since May 5. The S&P 500 Index also made a new all-time high on the open, and soybeans have followed moves on Wall Street lately. But while soybeans struggle to hold their uptrend, selling persists in wheat and corn, despite a dollar making new 2017 lows.
Senior Editor Bryce Knorr offers his insight into 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.