Soybeans Lower Overnight After Tuesday's Downturn

Soybeans Lower Overnight After Tuesday's Downturn

Bearish reversal on bullish USDA report leaves markets searching for bottom. (Audio)

Grain futures are lower across the board this morning on follow through selling from Tuesday’s disappointing trade. Rains will stall harvest in Iowa today, and showers could linger in the upper Midwest according to updated forecasts for October. Soft red winter wheat from the U.S. is likely too expensive yet to capture any of today’s tender from Egypt, though Russia is reportedly pulling back from the export market.

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

Bearish reversal on bullish USDA report leaves markets searching for bottom.

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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