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Beans Top $15 Overnight

Beans Top $15 Overnight

Soybeans surge to 16-week highs on ideas China is turning back to the U.S. for supplies. (Audio)

After failing to breach the $15 benchmark repeatedly this month, March soybeans finally burst through the barrier overnight. Reports that China switched purchases from Brazil back to the U.S. due to shipping delays triggered the move, just as March options prepare to go off the board today.

Listen to the report using the audio link on this page.

Soybeans surge to 16-week highs on ideas China is turning back to the U.S. for supplies.

Bryce Knorr, Senior Editor, Farm Futures, first joined Farm Progress Cos. in 1987. In addition to analyzing and writing about the commodity markets, he is a former future 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 Market Review on FarmFutures.com, he writes weekly reviews for key commodities and crop inputs. A journalist with 38 years of experience, he received the Master Writers Award from the American Agricultural Editors Association.

TAGS: USDA
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