Late Surge Overnight Lifts Futures

Late Surge Overnight Lifts Futures

Soybeans try to bounce back from Tuesday's disappointing bearish reversal. (Audio)

Grain futures are trading higher across the board this morning, with a late pop by soybeans helping move corn and wheat into positive territory. While short covering ahead of Friday’s USDA reports is driving corn and wheat, harvest delays may be adding to the gains in soybeans. Traders are still bracing for huge production estimates, and fresh fundamental news remains light.

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

Soybeans try to bounce back from Tuesday’s disappointing bearish reversal.

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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