Markets mixed after choppy overnight trade

Markets mixed after choppy overnight trade

Wheat tries to turn higher after profit taking following good export news. (Audio)

December corn traded in a range of less than a penny overnight, and that choppy pattern could continue today as traders brace for expiration of nearby options. Wheat gave back most of Thursday’s export-driven gains on profit taking early, but is trying to turn higher again, while selling drives soybeans lower.

You can listen to Bryce's comments using the audio player below.

The key word for overnight trade: Choppy

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.

Thriving during the Economic Downturn won't be easy but Mike Boehlje, Purdue University ag economist, and Farm Futures Summit speaker shares his thoughts in a new webinar. Watch the playback of Managing Your Farm Business in an Economic Downturn.

TAGS: USDA
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