Soybeans tried to mount a little rally ahead of the floor open in Chicago Tuesday morning, but the attempt failed. Improving crop ratings and yesterday's Farm Service Agency acreage data suggest the soybean crop could be around 80 million bushels bigger than USDA forecast last week. Still, ending stocks might not increase because those beans likely will find plenty of willing buyers eventually.
Listen to the report using the audio link on this page.
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.