Soybeans Surge To New Contract Highs

Soybeans Surge To New Contract Highs

Tight stocks trigger new move in both old and new crop beans. (audio)

They’re back! Soybeans piled on the gains overnight following Wednesday’s rally, taking July futures to a new contract high and targeting some major chart resistance from last summer. New crop prices are tagging along, providing profitable pricing opportunities that may convince growers on the Plains struggling with wheat to switch crops. Traders could get nervous ahead of the Memorial Day weekend, after investors ploughed funds into everything from stocks to crude oil.

Farm Futures Senior Market Analyst Bryce Knorr talks with Pam Jahnke, Wisconsin Farm Report.

Listen to the conversation using the audio link on this page.

Tight stocks trigger new move in both old and new crop beans

Bryce Knorr, Senior Market Analyst, Farm Futures, first joined Farm Progress Cos. in 1987. In addition to analyzing and writing about the commodity markets, he is a former future 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 Market Review on FarmFutures.com, he writes weekly reviews for key commodities and crop inputs. A journalist with 38 years of experience, he received the Master Writers Award from the American Agricultural Editors Association.

Pam Jahnke is Farm Director of the Wisconsin Farm Report that is carried on 16 stations in Wisconsin. Known as the "Fabulous Farm Babe," Pam studied broadcast journalism and broad-area agriculture at the University of Wisconsin-River Falls. After college, Pam moved to farm broadcasting and has never looked back. She says communicating on behalf of food producers is exactly what she was made for. Pam has been named "Friend of Agriculture" by the Wisconsin Department of Agriculture for her assistance in raising awareness of the "Harvest of Hope" program. She has also served as president of the National Association of Farm Broadcasting.

TAGS: USDA
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