Farm Progress

Soybeans try to lead breakout on charts

Grain futures rally despite move to safe havens ahead of nervous weekend (Video report)

September 22, 2017

1 Min Read

Nothing succeeds like success in the commodity market, and soybeans attracted follow-through buying overnight after bursting through resistance on the daily chart. Corn and wheat joined in the gains, testing some key areas of their charts as well. Strong export sales and concerns about South American weather paced the buying in beans, which ran counter to the mood in outside markets. Safe havens like gold were higher ahead of a nervous weekend that features German elections and more worries about the war of words with North Korea.

Check out Bryce's comments in a special Facebook live post below. Note this is from our new Facebook page at facebook.com/farmfutures. On that page we'll be posting new alerts and other updates regularly.

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. 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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