Farm Progress

Weak dollar boosts wheat and corn

Soybeans sell off after chart resistance holds. (video)

January 24, 2018

Rising volatility may have farmers looking at new crop soybean sales for 2017 alreadylukas_zb/Thinkstock

Grain futures reversed trends from Tuesday during the overnight session. Soybeans gave way to profit-taking after chart resistance above the market stopped the recent rally. Corn and wheat edged higher, supported by a sharply weaker dollar. The faltering greenback helped push gold higher, and crude oil is also posting gains while the trade waits for release of the latest figures on petroleum and ethanol production.

 

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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