Grain Futures Mostly Lower Overnight

Grain Futures Mostly Lower Overnight

Chart selling hurts soybeans with rain forecast for Argentina. (Audio)

Prices are mostly lower this morning in quiet overnight trade. March soybeans led the selling, seeing some follow through weakness after a reversal lower Thursday from chart resistance, despite more positive news about exports. Forecasts for rain in Argentina and southern Brazil over the next week cooled off the South American weather market a bit.

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

SLIPPING: Quite trade and soybeans slip on chart resistance.

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
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