Futures drop ahead of USDA reports

Futures drop ahead of USDA reports

Soybean and wheat charts turn bearish. (Video report)

USDA isn’t expected to make major adjustments to its forecast of 2017 U.S. ending stocks for corn, soybeans or wheat today. But after winter rallies, markets appear to be threatening a break anyway, with soybean and winter wheat charts showing bearish developments. Outside markets are calming down but news of slowing Chinese soybean demand rattled the trade nonetheless. The USDA report drops at 11 a.m. CST.

Watch the latest Facebook video posting from Bryce Knorr, and be sure to like or follow the Farm Futures Facebook 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.

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