Grain Market In Retreat

Grain Market In Retreat

Rally attempt fades as export data and outside markets add pressure. (Audio)

After two-sided trade earlier in the session, the grain market headed solidly lower across the board after the first hour of trading. Corn broke below $7.50 after another disappointing export sales report, while news China sold three loads of its previous purchases to other countries rather than take delivery was  negative for soybeans. Outside markets are also turning lower after a disappointing durable goods report this morning.

Listen to the report using the audio link on this page.

Rally attempt fades as export data and outside markets add pressure.

Bryce Knorr, Senior Editor, Farm Futures, first joined Farm Progress Cos. in 1987. In addition to analyzing and writing about the commodity markets, he is a former future 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 Market Review on FarmFutures.com, he writes weekly reviews for key commodities and crop inputs. A journalist with 38 years of experience, he received the Master Writers Award from the American Agricultural Editors Association.

TAGS: USDA
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