Soybeans firm overnight, corn falters

Soybeans firm overnight, corn falters

USDA reports reverberate through grain market while Wall Street waits for jobs report. (Audio)

Soybeans are posting more gains during the overnight session, but the rest of the screen in red as wheat and corn pull back. Light rain over Texas encourages a little profit taking in wheat, though most hard red winter wheat fields could see additional stress over the next week from warm, dry weather. Corn continues to come under pressure from USDA’s large acreage estimate. Outside markets are cautious, with modest selling noted ahead of this morning’s employment report for March, due out at 7:30 a.m. CDT.

Knorr shares market insights from overnight trade and you can listen using the audio tool on this page (just scroll down).

Overnight trade not kind to corn, but soybeans get better news.

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 you can follow Farm Futures throughout the day on Twitter at www.twitter.com/farmfutures.

TAGS: USDA Soybean
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