Profit Taking Dents Soybeans

Profit Taking Dents Soybeans

More frigid temperatures could hurt Plains wheat. (Audio)

Futures are mixed this morning, with selling in soybeans keeping the tone defensive. Beans pulled back from yesterday’s surge higher, as traders take profits and wait for more news about weather in Brazil. Corn and wheat are trying to stabilize today, with more bone-chilling cold raising concerns about winterkill to hard red winter wheat in Nebraska and South Dakota.

Senior Editor Bryce Knorr offers his insight into overnight trade, listen using the audio tool on this page.

PULLING BACK: Traders await more weather news from South America. Audio report offers morning rundown on over night trade.

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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TAGS: USDA Soybean
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