Soybeans Rally Against Harvest Pressure

Soybeans Rally Against Harvest Pressure

Soybean markets try to cover the 50-day moving average at the $13 level, but are finding resistance with harvest pressure. (Audio)

The government shutdown and debt argument are still with us, but there is some discussion and a chance for movement on some issues. Soybean meal and oil are both helping pull nearby contracts higher, but the market seems to be finding resistance at the 50-day moving average at $13. Corn harvest is picking up with exceptional weather expected to hold at least into the weekend and prices are giving back a little with the bushels moving into the market. The wheat rally looks to be losing a little steam without any new export data to help hold things together.

Farm Futures Market Analyst Paul Burgener reports on morning grain trade. Listen to him using the audio player on this page.

COMBINES, NO PROBLEM: After the morning open soybeans push ahead, but there's some resistance.

Market Analyst Paul Burgener joined the Farm Futures team in November 2012 and brings a solid ag economics background. A former University of Nebraska Extension Ag Economist with training from the University of Wyoming, Burgener brings extensive experience to his new role. Most recently, he was involved in agricultural finance, and will offer that perspective through his comments and writing.

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TAGS: Soybean
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