Light profit taking trims gains

Light profit taking trims gains

Weak markets overseas add to cautious tone today. (Audio)

After a big rally it’s not unusual to see profit taking, and that type of selling showed up at the start of the overnight session and is persisting this morning. Traders are mulling potential impact of weaker markets overseas along with the latest Farm Service Agency data on acres growers certified for government programs.

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

Overnight trade slips on light profit-taking.

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.

TAGS: Soybean
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