Farm Progress

Wheat reversals trigger short covering rally. (Video)

August 30, 2017

1 Min Read

After posting new contract lows Tuesday in corn and winter wheat, grain markets are trying to make a stand this morning. Wheat attracted a little follow-through buying after reversals higher yesterday triggered short covering. Corn is little changed with new export demand coming into the market. Soybeans tried to rally early in the overnight session but couldn’t hold gains after breaking out of a two-week uptrend yesterday.

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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 he writes weekly reviews for corn, soybeans, and wheat that include selling price targets, charts and seasonal trends. He also produces regular outlook reports on basis, energy, fertilizer and financial markets and feature price forecasts for key crop inputs.

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