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Soybeans Soar on Heat Wave

Soybeans Soar on Heat Wave

Major gap higher overnight for November futures drags corn and wheat higher too. (Audio)

Grain futures are in the throes of a full-blown weather market this morning, with a punishing heat wave taking a toll on soybean yields. November futures gapped higher at the start of trading Sunday night and never looked back, with technical targets pointed well above $14. Corn and wheat futures are also higher, though their gains are modest in comparison.

Farm Futures Senior Editor Bryce Knorr talks about the markets in this updated audio file.

You can listen to his commentary by clicking on the audio link on this page.

HEAT TIMING: This August heat wave comes at a key time for soybean development, and the market is responding.

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.

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