National Ag News

Grain and soybean futures were higher Monday as traders reacted to reports of flooding and crop damage caused by weekend storms.

DTN market analyst Darin Newsom says non-commercial short covering was the big factor.

“We saw some heavy buying come in on covering of those positions,” Newsom says. “That’s what moved the markets and that’s what could continue to move the markets because, in corn, it’s similar to what we saw last year when a short-covering rally took the market up 90 cents due to wet weather.”

Newsom says the situation is different this year because of larger old-crop supplies.

Continue reading Traders react to reports of flooding and crop damage at Brownfield Ag News.