Soybeans Drag Market Lower

Soybeans Drag Market Lower

New worries about European debt crisis add to weak soybean charts. (Audio)

Soybeans are suffering double digit losses this morning, with follow-through selling emerging overnight on the heels of a weak chart pattern last week caused by ideas South American soybeans are finally taking over the world market. That bearish outlook is being amplified by weak outside markets, as fears a plan to tax bank accounts in Cyprus to fund a bailout triggered more worries about the European debt crisis.

Farm Futures Senior Editor Bryce Knorr talks about the markets with Mick Kjar, Valley News Live, Fargo.

You can listen to his commentary  by clicking on the audio link on this page.

TOUGH COMBO: Those European worries have teamed with weaker soybean charts to drag down prices.

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.

And check out www.DatelineDrought.com, which is focused on moving into 2013 after the devastating 2012 Drought and includes links from the Farm Progress family of magazines on a wide range of drought and farm management topics.

And we're offering a new free report - Five Post Drought Strategies for a Better 2013 - filled with a wide range of information you can use in your operation. Check out the link today for the free download.

TAGS: USDA Soybean
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