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Grain Futures Set Back On Profit Taking

Hot, dry forecasts and drop in crop ratings keep selling orderly overnight. (Audio)

Published on: Aug 20, 2013

Profit taking on the heels of a big rally isn’t unusual, and that type of selling is in play this morning across the board in grain futures. Corn and soybeans are so far holding Monday’s bullish chart breakouts that attracted more technical buying. Crop ratings declined more than expected in Monday’s Crop Progress reports, keeping traders concerned about yield potential.

Farm Futures Senior Editor Bryce Knorr talks markets with Pam Jahnke at the Wisconsin Farm Report, who is filling in for Pam Jahnke. Listen to their conversation using the audio player on this page.

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.

TAKING PROFITS: Big rally brings chance to take some money out of the market, which cooled prices overnight.
TAKING PROFITS: Big rally brings chance to take some money out of the market, which cooled prices overnight.

Pam Jahnke is Farm Director of the Wisconsin Farm Report that is carried on 16 stations in Wisconsin.  Known as the "Fabulous Farm Babe" Pam studied broadcast journalism and broad area agriculture at the University of Wisconsin - River Falls. After college, Pam moved into her chosen field, doing farm broadcasting, radio and television, from Green Bay to Eau Claire, WI - and she's never looked back.  Pam often says she feels like farm broadcasting and communicating on behalf of food producers is exactly what she was made for. Pam has been named "Friend of Agriculture" by the Wisconsin Department of Agriculture for her assistance in raising awareness of the "Harvest of Hope" program. She has also served as president of the National Association of Farm Broadcasting.

Looking for ways to maximize corn yield? We have a new free report - Maximize Corn Yield Potential - just updated for the 2013 season. The 32-page report offers a range of insight into ways you can put more bushels in the bin.