Corn, soybeans try to hang onto gains

Corn, soybeans try to hang onto gains

Weather looks wet for Midwest, limiting buying. (Audio)

Corn got a bounce on Thursday, reversing higher after ethanol production surged last week. Export sales data out this morning is also expected to be decent, but forecasts for warm and wet conditions so far limited gains to short covering. Soybeans are fading overnight gains while wheat is lower, with the soggy hard red winter wheat crop getting some relief over the next week.

You can listen to Bryce's comments using the audio player below.

Demand is the key for markets - corn gets a lift, soybeans and wheat fade.

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.

Thriving during the Economic Downturn won't be easy but Mike Boehlje, Purdue University ag economist, and Farm Futures Summit speaker shares his thoughts in a new webinar. Watch the playback of Managing Your Farm Business in an Economic Downturn.

TAGS: USDA Soybean
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