Profit Taking Takes Soybeans Lower

Profit Taking Takes Soybeans Lower

Futures fall despite sharp drop in crop ratings (audio)

The futures market is often a "what have you done for me lately" place, which appears to be the tone on Wednesday. Soybean prices broke hard at the start of the overnight trade, even though weekly crop ratings showed another significant decline after last week's heat wave. Crops should remain mostly dry this week, with forecasting models showing potential for both warmer and colder weather over the next two weeks.

Listen to the report using the audio link on this page.

Futures fall despite sharp drop in crop ratings

Bryce Knorr, Senior Editor, Farm Futures, first joined Farm Progress Cos. in 1987. In addition to analyzing and writing about the commodity markets, he is a former future 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 Market Review on FarmFutures.com, he writes weekly reviews for key commodities and 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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