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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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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