Soybeans took a punch on Thursday but were able to bounce back from double digit losses. That same selling is underway again this morning, but soybeans so far are holding to an inside day, keeping their short-term uptrend in place. Cautious outside markets may be adding to the negative tone in the grain complex so far, and traders can’t decide if strong demand will be enough to keep supplies from building with farmers ready to harvest record crops.
Senior Editor Bryce Knorr offers his insight into overnight trade, listen using the audio tool on this page.
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.