Soybeans make new highs overnight

Soybeans make new highs overnight

Fallout from USDA continues as traders wonder about weather. (Audio)

Grain markets are mixed in overnight trading. While soybeans moved to new highs for 2016 on the strength of USDA’s bullish acreage estimate last week, corn continues to suffer after the government forecast a 6% surge in seedings. Wheat prices are mixed, as traders wait for the first crop ratings of the season and digest weather reports that show dry conditions on the Plains ending in the second half of April.

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

Soybeans riding USDA wave to new 2016 high.

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
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