Choppy Markets Mull USDA Report Into Weekend

Choppy Markets Mull USDA Report Into Weekend

Soybeans remain the focus of traders while Syria and Fed occupy Wall Street. (Audio)

Attempts at profit taking overnight didn’t take too much of a toll on grain futures overnight. November futures tries to regain its footing after pulling back on profit taking when an early attempt at $14 failed. Rains moving into the Midwest over the weekend could help late planted crops, but last week’s heat helped push other fields to maturity. Financial markets are also cautious, with negotiations over Syria and next week’s Fed meeting keeping investors on the sidelines.

Senior Editor Bryce Knorr offers his insight into overnight trade, listen using the audio tool on this page.

SOY FOCUS: The markets aim for $14 for soybeans, but pull back.

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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TAGS: USDA
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