Cattle try to add to gains after strong chart action Wednesday and higher $174 southern cash, but the market is awaiting more volume. Hogs see chart breakout with China news pushing the market. Corn and beans see profit taking with weak exports. Scott Varilek, Kooima Kooima Varilek, has more.
Cattle and Hogs Try to Extend Gains After Chart Break Out: Corn and Beans See Profit Taking
Cattle try to extend gains after strong chart action awaiting cash. Hogs see follow through buying on China news. Corn & beans see profit taking w/weak exports. Scott Varilek, Kooima Kooima Varilek, has more.
January 25, 2024 12:59 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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