Soybeans Surge Higher Overnight

Soybeans Surge Higher Overnight

Disappointing farm rains in Argentina attract buyers in soy market. (Audio)

 

The Presidents’ Day holiday ended with a bang Monday night, when soybeans gapped higher on the open of trading and never looked back. Disappointing rains in Argentina brought buyers back to the market, with yields in Brazil’s top-growing state of Mato Grosso also said to be down a little. Corn and wheat followed with only modest gains, however.

Farm Futures Senior Editor Bryce Knorr offers an early look at overnight trade.

You can listen to his commentary  by clicking on the audio link on this page.

SOYBEAN FOCUS: Lack of rain in Argentina is drawing buyers into the soybean market.

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 check out www.DatelineDrought.com, which is focused on moving into 2013 after the devastating 2012 Drought and includes links from the Farm Progress family of magazines on a wide range of drought and farm management topics.

And we're offering a new free report - Baling Up Hay-Making Costs: A Buyer's Guide - ahead of forage season. Check it out.

TAGS: USDA Soybean
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