Grain Futures Head Higher

Grain Futures Head Higher

Half day of trading ahead spurs short covering and bargain hunting. (Audio)

Prices moved higher across the board overnight, led by double digit gains in soybeans. July soybeans are again taking aim at the $16 mark, while November held some chart support on Tuesday to trigger interest. Buyers are dipping into corn and wheat on export demand after the move to new lows this week. Senior Editor Bryce Knorr offers his take on the overnight trade.

You can listen to his commentary by clicking on the audio link on this page. And check back at 11 for a look at that USDA report and Farm Futures analysis of what the numbers mean. We'll also be tweeting immediate information from the report at www.twitter.com/farmfutures.

SOYBEANS LEAD: Tight current supplies rule the overnight trade for soybeans, and float other commodity boats.

And be sure to check http://www.FarmFutures.com after 11 when we start posting information from the USDA report. We'll provide updates as we parse through the information. And you'll get more analysis in the afternoon edition of Farm Futures Daily - our twice-daily e-newsletter. If you want to see it, sign up here.

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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