Soybeans rallied overnight to within a couple cents of key chart objectives on the March chart, as nearby futures went into delivery. While strong cash prices meant no beans were put out, more than 1,400 corn contracts hit the street after registrations swelled. Subzero temperatures are again threatening winter wheat, while traders watch the ongoing truckers’ strike in Brazil for signs of a settlement.
Senior Editor Bryce Knorr offers his insight into overnight trade, listen using the audio tool on this 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.