October 24, 2016
Soybeans posted double digit gains on steady buying during the overnight session after a lower open. The red-hot international vegetable oil market again drove gains, with more interest noted last week from big speculators. Corn and wheat tried to follow along but slipped after weak industrial production data came out in Britain. Rains could slow combines in the upper Midwest this week after a busy weekend of harvest progress across the Corn Belt.
Listen to today's audio commentary with the online player. (just scroll down).
Overnight trade is soybean friendly, but corn and wheat slide after early attempt to keep up.
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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