AgDay TV Markets Now: John Heinberg, Total Farm Marketing, says soybeans have a poor technical close Friday as Argentina buys from China, corn follows but also sees harvest pressure.
AgDay TV Markets Now: John Heinberg Says Poor Technical Close in Soybeans as Argentina Sells to China, Corn Follows
AgDay TV Markets Now: John Heinberg, Total Farm Marketing, says soybeans have a poor technical close Friday as Argentina buys from China, corn follows but also sees harvest pressure.
September 15, 2023 06:27 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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