Soybeans Suffer Again

Soybeans Suffer Again

January contract breaks chart support despite strong demand. (Audio)

Grain futures are lower across the board again this morning, with another session of double digit declines taking soybeans below the channel that marked the October rally. Steady selling quickly eroded a rebound attempt overnight, as more gains by the dollar weigh on commodities, especially gold, which is down almost $30 an ounce.

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

January contract breaks chart support despite strong demand.

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.

Take on 2015 with the right set of financial and management tools, make plans now to attend the 2015 Farm Futures Business Summit, Jan. 7 & 8, 2015. Learn more at the event web page where you can register and make your hotel reservation.

TAGS: USDA
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