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Soybeans Get Hammered Before Report

Quiet trade was expected ahead of this morning’s big January crop reports from USDA, but moves in the soybean market were anything but tepid. After suffering a bearish reversal lower from overhead resistance on Thursday beans continued to sell off overnight, posting double digit losses as weather continues to point towards a huge South American crop.

Farm Futures Senior Editor Bryce Knorr offers an early look at overnight trade.

You can listen to their conversation by clicking on the audio link 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.

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