Soybeans race to another new high overnight

Soybeans race to another new high overnight

Jobs and export numbers could drive sentiment Friday. (Audio)

Soybeans remain the market on fire, with July futures posting double digit gains and another new high for the rally. Corn and wheat are lagging, however, as the market awaits fresh export data this morning. Weekly totals come out at 7:30 a.m. CDT, just as the government releases employment numbers for May, which could be a key deciding factor whether the Federal Reserve raises interest rates this summer.

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

Overnight trade stays friendly to soybeans, though corn and wheat are lagging.

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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