Soybeans Rally On Exports

(Farm Futures) – The soybean market has had a positive tone this week, but was unable to sustain its rally Thursday after a strong export sales report. Futures again saw steady buying overnight, as the January contract tries to move through chart resistance at its 50-day moving average. Wheat is also trying to make a chart-related move, while corn struggles due to weak export demand.

Bryce Knorr, Senior Editor, Farm Futures, first joined Farm Progress Cos. in 1987. In addition to analyzing and writing about the commodity markets, he is a former future 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 Market Review on FarmFutures.com, he writes weekly reviews for key commodities and crop inputs. A journalist with 38 years of experience, he received the Master Writers Award from the American Agricultural Editors Association.