Ag markets rebound and see corrective buying after the commodity wide selloff Wednesday. Cattle still trying to bottom and await larger cash trends which so far have been soft but the DOW hits record highs which should be positive for consumer demand. Grains get help from decent weekly exports and a big soybean sale to unknown and the lower dollar. Scott Varilek, Kooima Kooima Varilek, has more.
Ag Markets See Corrective Buying After Wednesday Selloff: Exports, Lower Dollar Supportive
Ag markets rebound, see corrective buying after the commodity wide selloff Wed. Cattle still trying to bottom and await larger cash trends which so far have been soft. Scott Varilek, Kooima Kooima Varilek, has more.
December 14, 2023 09:20 AM
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Grain markets crashed on Thursday with profit taking and fund liquidation tied to disappointment over the lack of agricultural purchase agreements during day one of the U.S. China summit.
The grain markets were sharply lower Thursday morning with soybeans seeing 30-cent losses on disappointment the China summit has not produced any agricultural purchase agreements.
Sam Hudson with Cornbelt Marketing says corn and soybeans were firmer on inflationary buying and optimism regarding the China summit. Cattle soared with higher cash.
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