Quiet Markets Wait For Weather, USDA

Quiet Markets Wait For Weather, USDA

Surprise moves in old crop soybean market raise stakes for Monday's reports. (Audio)

Markets are quiet so far in the overnight session, with mostly profit taking and position squaring being seen into the weekend, ahead of Monday’s big grain stocks and acreage reports. The trade was already buzzing about an unexpectedly large old crop soybean export total reported yesterday when all but 21 of the 150 lots of soybeans registered for delivery along the Illinois River were withdrawn late in the afternoon. USDA is expected to report very tight June 1 soybean inventories on Monday, but 2014 acreage could be higher than March intentions.

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

Surprise moves in old crop soybean market raise stakes for Monday’s reports.

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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