Futures are lower across the board this morning, led by more selling in soybeans. A weak vegetable oil market in Asia coupled with wetter forecasts in Argentina took January soybeans below chart support overnight. Winter wheat contracts are also under pressure, making new contract lows despite forecasts for more dry conditions over the next two weeks. Corn remains in its recent range but is also lower, holding less than a penny above chart support.

Watch the latest Facebook Live 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.