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Steady buying lifts soybeans to chart testSteady buying lifts soybeans to chart test

Markets rally despite vacuum in USDA data. (Video report)

January 22, 2018

1 Min Read

Grain futures are posting gains this morning, led by a soybean market testing resistance around $9.85 on the March chart. Dry weather in Argentina sparked more short covering, giving corn and wheat a leg up too. Gains in the ag trade came despite a weaker tone on financial markets, which appeared to be hit by cautious profit taking as the  impact of the government shutdown will begin to be felt when businesses reopen after the weekend.

Watch the latest Facebook video posting from Bryce Knorr, and be sure to like or follow the Farm Futures Facebook 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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