Soybeans Lead Market Lower Overnight

Soybeans Lead Market Lower Overnight

Forecasts for rain in dry parts of South America reinforced by chart sellers. (Audio)

Markets are trading lower again this morning as the overnight session winds down, led by profit taking and technical selling in soybeans. Forecasts showing better chances for rain in dry parts of South America caused beans to turn tail on Wednesday, with follow-through selling seen overnight. Dry areas of the U.S. hard red winter wheat belt could also see a little moisture over the next week, while corn growers wait for the latest news about ethanol production.

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

Forecasts for rain in dry parts of South America reinforced by chart sellers.

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 Soybean
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