Soybeans add to gains overnight

Soybeans add to gains overnight

Light follow-through buying noted after Tuesday's report rally. (Audio)

Grain futures are holding on to gains from yesterday’s big day in soybeans, which trade expanded $1 limits today. Corn also saw some steady buying overnight, with forecasts remaining wet for parts of the soggy South and eastern Midwest. Due out this morning at 9:30 CDT is the latest energy report, including ethanol production and crude oil inventories from last week.

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

Overnight trade builds on the good news soybeans got Tuesday after USDA report. (Photo: Scott Olson/Getty Images)

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
Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish