Soybean harvest is heading down the home stretch but most of the crop this fall is headed into storage rather than being loaded on barges. China’s tariffs on U.S. soybeans is spreading out the U.S. selling season rather than front-loading shipments early in the marketing year. The market provides both a carrot and a stick to move soybeans into storage. The stick is very weak basis, with the carrot being very attractive carries from November to deferred delivery in 2019. Only 13 contracts were put out today against November, helping firm futures overnight as stock markets around the world recovered from their October plunge.

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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.