Soybeans Pull Back, Eye Chart Support

Soybeans Pull Back, Eye Chart Support

Export sales data out this morning should show strong soybean demand. (Audio)

Grain futures are lower across the board this morning, with soybeans again leading the pack with double digit declines. January futures are holding chart support but the first deliveries against November rattled some as that contract prepares to stop trading at noon. Export sales data out this morning should be strong for soybeans, though totals for corn and wheat may remain subdued.

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

Export sales data out this morning should show strong soybean demand

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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 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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