Cattle 2-sided, still consolidating but hitting chart resistance. Hogs are still holding gains for the 5th day but are also at resistance areas on the charts. Soybeans follow meal with Mexican export biz and corn follows. Both are seeing corrective buying, watching SA weather and planting progress. Jeff Hoogendoorn, Professional Ag Marketing, has details.
Cattle 2-Sided Hitting Chart Resistance, Hogs Hold Gains: Row Crops See Corrective Buying & Follow Meal, CO
Cattle 2-sided still consolidating but hit chart resistance. Hogs holding gains for 5th day. Soybeans follow meal with export biz and corn follows. Jeff Hoogendoorn, Professional Ag Marketing, has details.
October 31, 2023 12:23 PM
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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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