Soybeans On The Brink

Soybeans On The Brink

November futures struggle to stay above Revenue Protection base price. (Audio)

While farmers are fight to plant the last of the 2013 soybean crop, November futures are also battling, trying to stay above the $12.87 base price used in Revenue Protection crop insurance contracts. Futures have closed above that level since surging higher after Memorial Day, when the planting weather rally began. Kansas City wheat is also eyeing the weather this morning, trying to reverse higher as rain threatens to slow the hard red winter wheat harvest.

Farm Futures Senior Editor Bryce Knorr offers an early look at overnight trade. You can listen to his commentary  by clicking on the audio link on this page.

SOYBEAN STRUGGLE: Farmers are fighting to get the last of the soybeans planted, and the market is challenging November prices.

And be sure to check http://www.FarmFutures.com after 11 when we start posting information from the USDA report. We'll provide updates as we parse through the information. And you'll get more analysis in the afternoon edition of Farm Futures Daily - our twice-daily e-newsletter. If you want to see it, sign up here.

Senior Editor 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.

Do you trust USDA acreage numbers? You could help us tell the WHOLE story - Take the Farm Futures Survey - and help us report planted acres ahead of USDA's June 28 estimate. A few minutes with us can help us tell the real story.

TAGS: USDA Soybean
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