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Soybeans edge higher, grains weaker

Markets mostly shrug off talk of trade war on new tariffs. (audio)

January 23, 2018

It’s more of the same in the grain market today: Soybeans edged higher overnight while corn and wheat pulled back again. Concerns about dry weather in Argentina continue to drive short covering in soybeans, which are testing targets on price charts. Stocks traded higher overnight until a snap selloff around 5 a.m. that didn’t appear to be triggered by any new headlines, though investors remain cautious new tariffs on solar panels and washing machines could ratchet up trade friction.

 

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.

For more corn, wheat and soy news, commodity marketing recommendations and daily commodity charts, subscribe to Farm Futures' free e-newsletter, Farm Futures Daily, and keep up during the day with Farm Futures on Twitter.

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