Cattle consolidating early awaiting more cash news and despite higher beef, but does the market have enough wx premium? Hogs see profit taking. Grains mixed ahead of USDA data but is there anything that could be bullish enough to really rally grains? Scott Varilek, Kooima Kooima Varilek, has insight.
Cattle and Hogs Consolidate Eyeing Cash, Wx: Grains Mixed Awaiting USDA Data
Cattle consolidate early awaiting more cash & despite higher beef, but does the market have enough wx premium? Hogs see profit taking. Grains mixed ahead of USDA data. Scott Varilek, Kooima Kooima Varilek, has more.
January 12, 2024 09:22 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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