Farm Progress

Futures fight to extend rebound

Stronger basis, Egypt wheat sale buoy hopes. (Video report)

October 29, 2018

1 Min Read
Albert Yarullin/ThinkstockPhotos

Wheat led the market higher Friday after the first sale of wheat to Egypt in more than a year showed U.S. prices are competitive. Wheat tried to extend those gains overnight, gapping higher above its two-week downtrend, but started to fade those gains following good rains in Europe. Stronger basis in the export pipelines for corn, soybeans and wheat last week was also a positive sign as markets of all stripes from stocks to soybeans fight to get out of their funk.

Watch the latest Facebook video posting from Bryce Knorr and be sure to like or follow the Farm Futures Facebook page.

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 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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