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Big crop surpluses spur export demand

Weak Chinese trade data increases worries about October stock slump. (Audio)

October 13, 2016

1 Min Read

Grain futures are mixed this morning, trying to heal from USDA reports Wednesday that confirmed the obvious: Crops are big with plenty of corn, soybeans and wheat in the U.S. this year. Signs of export demand helped boost corn and wheat overnight, but soybeans sputtered in part due to bearish news out of China. While the world’s largest importer of soybeans bought more than expected in September, the total was down from August and year-ago levels, as total Chinese trade slumped, increasing concerns about the economy there. Those worries are helping pressure stock markets around the world, as Wall Street remembers some of its biggest selloffs have come during this month.

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Listen to today's audio commentary with the online player. (just scroll down).

Senior Editor 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. And you can follow Farm Futures throughout the day on Twitter at www.twitter.com/farmfutures.

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