Profit Taking Dents Gains Ahead Of USDA Report

Profit Taking Dents Gains Ahead Of USDA Report

Markets pull back after last week's rally. (Audio)

Prices of corn, soybean and wheat are lower this morning, with profit taking noted overnight on the heels of last week’s rally. Traders appear cautious ahead of today’s monthly supply and demand report from USDA, due out at 11 a.m. Chicago time.

Farm Futures Senior Editor Bryce Knorr talks about the markets with Robert Hahn, Valley News Live TV, Fargo.

You can listen to his commentary by clicking on the audio link on this page.

CAUTIOUS: With today's USDA report looming, profit-taking pulls prices lower overnight.

Senior Editor 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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