Corn and soybeans lower with fund selling on poor exports and removing Brazil weather premium, wheat was higher on short covering. Cattle set back with softer cash, while hogs bounced as the LHI is bottoming. Darren Frye, Water Street Solutions, has more.
Corn and Beans Slide into New Lows, Cattle Consolidate, but Wheat and Hogs Bounce
Corn and soybeans lower on fund selling w/poor exports & removing Brazil wx premium, wheat up on short covering. Cattle set back with softer cash, while hogs bounced. Darren Frye, Water Street Solutions, has more.
January 05, 2024 02:52 PM
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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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