Wheat rally put to the test

Wheat rally put to the test

Corn holds gains after export-driven rally. (Video report)

A strong export sales report Thursday helped lift grain futures higher on short covering, but more positive price chart patterns were tested overnight. While soybeans continued to see some selling after a downturn in Asia, corn held on to gains. Wheat futures are also beginning to firm after breaking out of the August-September downtrend.

 Watch the latest Facebook video posting from Bryce Knorr and be sure to like or follow the Farm Futures Facebook 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.

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