Soybeans Eye $14 Milestone

Soybeans Eye $14 Milestone

Futures see a little profit taking overnight after Tuesday's rally. (Audio)

March soybean futures ticked to a new contract high on Tuesday, touching $14 before stalling, and the contract is trying to take another stab at the benchmark today. A little profit taking is keeping that from happening so far, but prices are well off overnight lows, as export demand and weather concerns in South America keep buyers interested in U.S. originations.

Senior Editor Bryce Knorr offers his insight into overnight trade, listen using the audio tool on this page.

PUSHING HIGHER: Trader's profit-taking keep soybeans from topping $14, but overnight effort pushes beans up.

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.

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