Wheat Tries to Lead Market Higher

Wheat Tries to Lead Market Higher

Soybeans sag as government shutdown weighs on Wall Street to start the week. (Audio)

Grain futures tried to mount a rally overnight, but a turn lower by soybeans is starting to sour the mood as trading gets underway for the week. The government shutdown took stock prices lower in Asia and Europe, and appears to be dimming bullish hopes in soybeans, too, after a run at $13 failed overnight. Wheat prices are holding on to gains, supported by fears production out of the Black Sea could be sharply lower in the year ahead.

Farm Futures Senior Editor Bryce Knorr talks about the markets with Mick Kjar, Valley News Live TV, Fargo.

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

SLIDE: While wheat pushes the market higher, global concerns over the government shutdown - no it its second week - pull markets down.

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.

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.

TAGS: USDA Soybean
Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish