Soybeans Extend Gains

Soybeans Extend Gains

Follow- through buying gives beans another boost but wheat market ignores big Chinese purchases. (Audio)

Mention Chinese buying of a commodity and its usually enough to send prices soaring. That was the case on Tuesday, when soybean prices surged in part due to new deals with the world's largest importer. But China has also been buying wheat, lots of it, after severe problems with head blight in 2012 apparently reduced production. Wheat prices so far aren't paying attention, however, making new seven-month lows yesterday and struggling overnight. That's holding back corn as well.

Farm Futures Senior Editor Bryce Knorr talks with Kelsey Ostby, Wisconsin Farm Report.

Listen to the conversation using the audio link on this page.

Follow- through buying gives beans another boost but wheat market ignores big Chinese purchases.

Bryce Knorr, Senior Editor, Farm Futures, first joined Farm Progress Cos. in 1987. In addition to analyzing and writing about the commodity markets, he is a former future 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 Market Review on FarmFutures.com, he writes weekly reviews for key commodities and crop inputs. A journalist with 38 years of experience, he received the Master Writers Award from the American Agricultural Editors Association.

TAGS: USDA
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