Corn Pulls Higher On Technical Buying

Corn Pulls Higher On Technical Buying

Grain futures are mixed overnight in quiet trading. (Audio)

Between the Lunar New Year in Asia and Super Bowl here in the U.S., grain markets had almost a holiday feel overnight. Corn moved higher on light follow-through buying, following an improved outlook on the chart and ideas demand may be a little better than forecast by USDA. Rains in South America cooled off soybeans modestly while wheat braces for another round of frigid air.

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

TECH BUYING: China holiday, and the Super Bowl, give markets 'holiday' touch.

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.

You can add bushels to your soybean yield with our new free report Boost Your Soybean Yield. Click the link, download the report and start thinking about 2014.

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