Soybeans Break On Profit Taking, Acreage Fears

Soybeans Break On Profit Taking, Acreage Fears

Futures trade lower into Friday's session as traders take gains off the table. (Audio)

Futures are lower across the board this morning, and soybeans are again the leader. Profit taking kicked in overnight after Thursday’s rally ran out of gas before reaching contract highs. Bearish reversals lower in wheat also attracted some selling, though losses are limited so far. Corn remains the follower, though futures continue to hold supportSenior Editor Bryce Knorr offers his insight into overnight trade, listen using the audio tool on this page.

PROFIT TAKING: Soybeans break overnight as Thursday rally runs out of gas.

Where will prices end up for season 2014? Get a jump on risk management planning with our special Farm Progress Marketing Webinar set for April 7, 2014. You'll hear from Bryce Knorr, Farm Futures senior market analyst, and Bob Burgdorfor, the new senior editor of Farm Futures. Sign up today.

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