Trade Quiets After Thursday Gains

Trade Quiets After Thursday Gains

If market can hang on above nearby resistance, it's good news for the March soybean contract. (Audio)

It's a quiet morning after an after active trading day Thursday. Chinese traders are slow to return from the long holiday, so the trade will be watching that. News that China has rejected more corn due to presence of an unapproved GMO trait isn't slowing corn trade. Other Asian countries are snapping up those rejected loads.

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

CHINA RETURNS: The Chinese holiday is ending, which will influence the trade. Corn that China has rejected is being snapped up by other Asian buyers.

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