Markets Try To Stem Bearish Tide

Markets Try To Stem Bearish Tide

Choppy overnight trade keeps changes minimal after sharp turn lower this week. (Audio)

Markets are looking a little better this morning, if only because they’re not getting any worse. Heavy selling this week across the board in corn, soybeans and wheat broke key chart supports, prompting liquidation of previously bullish bets by funds. Wetter forecasts for the beleaguered hard red winter wheat crop on the Plains also weighed on prices, though rains could drag out corn planting.

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

Choppy overnight trade keeps changes minimal after sharp turn lower this week

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 Soybean
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