July 1, 2019
Soybeans tried to lead the market higher overnight with follow-through buying noted after Friday’s bullish USDA acreage estimate and resumption of trade talks with China. Gains are starting to ebb, however, as traders mull an updated July forecast that calls for below average temperatures and above average precipitation for much of the growing region. Most year’s that forecast would be good for yields, but more of the same may not be what crops lagging development need right now.
Senior Editor Bryce Knorr offers his insight into overnight trade, listen using the audio tool on this 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 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.
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