Cattle see more chart-based selling awaiting cash, hogs 2-sided after strong exports. Grains lower with pre-report, with soybeans fading big export sales on profit taking. Scott Varilek, Kooima Kooima Varilek, has more.
Cattle See More Chart Based Selling, Hogs 2-Sided: Grains Lower Fading Big Soybean Export Sales Ahead of WASDE
Cattle see more chart-based selling awaiting cash, hogs 2-sided after strong exports. Grains lower with pre-report, with soybeans fading big export sales. Scott Varilek, Kooima Kooima Varilek, has more.
November 09, 2023 09:17 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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