Soybeans Give Back Gains

Soybeans Give Back Gains

Profit taking whacks November futures overnight after weak finishing on Tuesday. (Audio)

Drier weather forecast for the second half of August isn’t helping markets much this morning. Following a weak close on Tuesday soybeans are down double digits, while corn is struggle to hold on to a little of a rebound rally. The competitiveness of U.S. corn at lower price levels could be tested by a tender from South Korea today.

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

SOY LETDOWN: Weather market has little impact as soy prices slide in overnight trade.

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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TAGS: USDA
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