Weak Asian markets take soybeans lowerWeak Asian markets take soybeans lower

Soybean oil was the strongest part of the soy complex for much of 2017, but its star has faded. Beanoil futures in Chicago followed Asian markets lower overnight, dragging soybeans down as well on the heels of more losses in competing palm oil. Corn also ticked to new contract lows, but wheat prices were higher, attracting some follow-through short covering after Tuesday’s reversal higher.

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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 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.