Soybeans sold off again overnight, with follow-through selling noted on the heels of Friday’s breakdown. All signs point to a big crop in South America, giving buyers little reason to press the market higher. While it could be difficult for Brazil to ship out a record crop, for now the path of least resistance is lower.
Farm Futures Senior Editor Bryce Knorr talks about the markets with Mick Kjar, Valley News Live, Fargo.
You can listen to his commentary 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.
WALKING AWAY: Friday’s weak farm futures showing causes more traders to toss in the towel.
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