Profit taking hits corn and soybeans

Profit taking hits corn and soybeans

Wheat tries to hold on to gains from Tuesday's rally. (Audio)

Grain futures are mixed this morning on the heels of Tuesday’s big rally, with more caution being seen in outside markets as well. Corn and soybeans gave back a little of their gains on profit taking, but wheat is still higher despite a stronger dollar that appears to be limiting money managers’ appetite for risk today.

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

Caution returns after Tuesday rally.

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: USDA
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