Buying In Europe Lifts Grain Market

Buying In Europe Lifts Grain Market

Profit taking appears limited so far, though news is lacking to start week (audio)

Soybeans saw a little profit taking after Friday's big gains, but buying when trading started in Europe helped lift prices higher, helping corn add to its gains as well. Short covering from big speculators buying back bearish bets in corn looks like the best hope for a rally now, with the news flow slowing down after Friday's USDA reports.

Listen to the report using the audio link on this page.

Profit taking appears limited so far, though news is lacking to start week

Bryce Knorr, Senior Editor, Farm Futures, first joined Farm Progress Cos. in 1987. In addition to analyzing and writing about the commodity markets, he is a former future 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 Market Review on FarmFutures.com, he writes weekly reviews for key commodities and crop inputs. A journalist with 38 years of experience, he received the Master Writers Award from the American Agricultural Editors Association.

TAGS: USDA
Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish