October 27, 2016
A funny thing happened on the way to what was supposed to be a bad year for growers. A strong October rally is giving many a shot at profitable prices, especially for soybeans. Huge yields lower the cost of production per bushel, just as November futures trades back above $10. Corn margins aren’t so strong, but may still work when ARC payments are figured into cash flows. Prices continued their move higher overnight, but these Halloween rallies typically don’t last long.
Senior Editor Bryce Knorr offers his insight into overnight trade, listen using the audio tool on this page.
A strong October rally is giving many a shot at profitable prices, especially for soybeans. (Photo: lukas_zb/Thinkstock)
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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