Corn, soybeans and wheat all came under the influence of expiring March options on Friday, when futures traded near key strike prices on the close. Traders abandoned in-the-money soybean puts and exercised out-of-the-money calls, a tip they though prices could trade higher on Monday. Soybeans indeed are posting gains, finding support from USDA’s bullish 2015 acreage estimate.
Senior Market Analyst Bryce Knorr offers his insight into overnight trade, listen using the audio tool on this page.
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.
Check out a new FREE report that offers an in-depth look at Cover Crops: Best Management Practices. The 32-page report offers an in-depth look at this crop management enhancement