Futures rally despite more weakness in AsiaFutures rally despite more weakness in Asia

There was both bullish and bearish news out of China today for the soybean market, with the bulls winning – at least for now. Modest buying in soybeans also helped corn and wheat higher after the latest customs data from China showed a surge in soybean imports during November. That news offset some of the bearishness from vegetable oil markets in Asia, which sold off again sharply today. Dry weather in Argentine continues to offer additional support for soybeans as they try to regroup following Thursday’s disappointing trade.

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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.