Cattle fade a lower open and bearish COF report to end higher with strong cash and weather both supportive. Hogs reacted to a bearish USDA report with big upfront supplies. Grains all higher on EOY trade, Brazil weather and demand news and/or China talk. Scott Varilek, Kooima Kooima Varilek, has more.
Cattle Shake Off Bearish COF, Grains See EOY, Wx and Demand Pop: While Hogs Digest USDA Data
Cattle faded a bearish COF report twith strong cash and weather both supportive. Hogs reacted to a bearish USDA report. Grains up on EOY positioning, SA wx and demand. Scott Varilek, Kooima Kooima Varilek, has more.
December 26, 2023 02:39 PM
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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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