Soybeans Lead Market Higher

Soybeans Lead Market Higher

Chart-based buying gives soybeans a lift despite slow export sales. (Audio)

You know a market is hot when futures shrug off bad news and rally anyway. That’s what soybeans are doing Friday morning, extending gains from Thursday’s despite disappointing export sales totals from last week and news of Chinese cancellations earlier in the week. Corn is firm, while Chicago wheat moved back above $6 a bushel.

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

Chart-based buying gives soybeans a lift despite slow export sales.

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.

Want to tune up your financial knowledge? We've rescheduled the Farm Futures Ag Finance Bootcamp to Feb. 20 and you can still attend. Just visit the Bootcamp Page to Register.

TAGS: USDA
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