Grain Futures Extend Gains

Grain Futures Extend Gains

Soybeans see more buying after flat ratings remind traders the crop isn't made yet. (Audio)

Prices are higher across the board this morning, and soybeans are again leading the charge after a big turnaround Monday. Traders are starting to talk about potential for drier weather to move into the southwest part of the growing region, which is already beginning to stress both  corn and soybeans there a little. Futures also benefited from short covering ahead of Thursday’s USDA report, after the latest Commitment of Traders showed speculative hedge funds leaning heavily with a record bearish bet in corn.

You can listen to his commentary by clicking on the audio link on this page.

CONDITION REPORT: Flat ratings show traders that new-crop supply no lock yet.

Senior Editor 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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