AgDay TV Markets Now: John Payne, Hedge Point Global Markets, says corn and wheat see profit taking. Grain markets will need a supply or demand shock to get a significant rally, even soybeans.
AgDay TV Markets Now: John Payne says Corn and Wheat See Profit Taking, Grains Needs Supply or Demand Shock for Big Rally
AgDay TV Markets Now: John Payne, Hedge Point Global Markets, says corn and wheat see profit taking. Grain markets will need a supply or demand shock to get a significant rally, even soybeans.
December 28, 2023 10:05 AM
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Soybeans ended higher as rumored export business was confirmed by USDA with a flash sale of 13.2 million bu. sold to unknown destinations. However, China was also looking for corn and wheat.
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.
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