Grain Futures Sell Off Ahead Of Weekend

Grain Futures Sell Off Ahead Of Weekend

Rains dampen enthusiasm for buying as market looks for more data to trade. (Audio)

More red ink is flowing through the grain futures trade this morning, most of it in soybeans, which are suffering double digit declines on chart-based selling. Lack of follow-through in outside markets after this week’s meeting of the Federal Reserve may also be weighing on beans, with traders already starting to anticipate USDA’s Sept. 30 grain stocks data.

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

LOOKING AHEAD: Besides rain and the Fed, traders are already looking ahead to that Sept. 30 report.

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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