Cattle struggle to extend Wed. gains awaiting confirmation of higher cash and COF, hogs bounce with better exports. Corn sees short covering off new lows but may struggle with the MX rail issue and with lower soybeans as they extract SA weather premium with improved rains. Brad Kooima, Kooima Kooima Varilek, has details.
Cattle Struggle Awaiting Cash, COF News: Corn Sees Corrective Buying Off New Lows, Soybeans Remove SA Risk Premium
Cattle struggle awaiting confirmation of higher cash and COF, hogs bounce on better exports. Corn sees short covering off new lows, soybeans extract SA wx premium. Brad Kooima, Kooima Kooima Varilek, has details.
December 21, 2023 09:22 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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