Soybeans try to hold onto gains

Soybeans try to hold onto gains

Weather concerns support futures as wild day of trading heads down the home stretch. (audio)

Soybean traders are on edge headed into the weekend, and it doesn’t take much to trigger big moves in this nervous environment. November futures plunged almost 30 cents in a matter of minutes towards the end of the overnight session when a move below yesterday’s lows triggered stops, but the market was able to bounce back quickly. Concerns about a shift towards warmer and drier weather next week remain in play, though those worries haven’t been enough to help corn stay consistently higher today.

Listen to the report using the audio link on this page.

Soybean traders are on edge headed into the weekend. (Photo: whyframestudio/Thinkstock)

Senior Editor Bryce Knorr 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.

For more corn, wheat and soy news, commodity marketing recommendations and daily commodity charts, subscribe to Farm Futures' free e-newsletter, Farm Futures Daily, and keep up during the day with Farm Futures on Twitter.

TAGS: USDA
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