Grain Futures Ease Overnight

Grain Futures Ease Overnight

Prices pull back on profit taking as traders mull new acreage data. (Audio)

Markets are lower across the board this morning, giving back some of Tuesday’s strong advance in corn and soybeans. Farmers made better progress than expected harvesting soybeans in the latest week, though they’re still well behind average. The latest report on acres farmers certified for government program continues to raise questions about how much ground they’ll harvest this fall, with totals still lagging behind USDA’s official estimates, despite reductions the agency made in its Oct. 10 production report.

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

Harvest progresses, but acreage questions remain.

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 Soybean
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