Grain Futures Quiet on Profit Taking

Grain Futures Quiet on Profit Taking

Corn and soybeans hang on to most of their gains on forecast that remains too wet for Midwest. (Audio)

Some of the buying in the grain futures on Tuesday may have come from investors looking for risk, as financial markets were on a tear. Wall Street looks ready to give back those gains today, but corn and soybeans are suffering only modest profit taking. Tuesday’s Crop Progress report showed planting and emergence of both crops lagging into the last week of May, with a wet forecast threatening more delays.

Farm Futures Senior Editor Bryce Knorr offers an early look at overnight trade. You can listen to his commentary  by clicking on the audio link on this page.

DELAYS: Progress report shows farmers trying to catch up but they're still behind with wet weather ahead and the market is watching.

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.

Check out a new FREE report that offers an in-depth look at Cover Crops: Best Management Practices. The 32-page report offers an in-depth look at this crop management enhancement.

TAGS: USDA Soybean
Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish