Futures mixed as cautious mood returns

Futures mixed as cautious mood returns

Saturated soils support wheat and corn, but soybeans reverse lower. (audio)

Grain futures are headed in different directions this morning. Corn and wheat are a little higher, with more rains threatening winter wheat fields and delaying planting in the South. Soybeans are lower, continuing to follow moves in outside markets that are pulling back after last week’s rally. Drier weather in Brazil could also be triggering profit-taking in soybeans, helping pick up the pace of harvest and loading of ships there.

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

Grain futures are headed in different directions this morning. (Photo: Whyframestudio/Thinkstock)

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.

TAGS: USDA Wheat
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