AgDay TV Markets Now: Chip Nellinger, Blue Reef Agri-Marketing says grains close higher with corrective action after holding long term lows.
AgDay TV Markets Now: Chip Nellinger says Corn and Soybeans End Higher with Corrective Buying Off Support
Corn and soybeans held long term support last week and built on it with Monday’s close.
January 22, 2024 06:01 PM
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Wednesday morning USDA reported a flash sale of 13.2 million bushels of soybeans to unknown destinations and Randy Martinson with Martinson Ag says the market is betting that its China.
Soybeans were sharply lower in the overnight trade and then saw a gap higher open during the day session on talk that China was in pricing U.S. soybeans says Brian Grete with Commstock Investments.
Vince Boddicker of Farmers Trading Company says while no sales have been confirmed, just the rumors of China in the U.S. market looking for bids brought buyers back into the market.
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