Turn around Tuesday so wheat and corn were higher on corrective buying. Soybeans saw profit taking lower bean oil was also a drag following 5-month lows in crude oil. Cattle up for the third day, so it a bottom in? Arlan Suderman, StoneX, has analysis.
Corn and Wheat Bounce on Short Covering, Profit Taking in Beans with Lower Bean Oil: Cattle Up for Third Day
Turn around Tuesday so wheat and corn were higher on corrective buying. Soybeans saw profit taking with lower bean oil also a drag. Cattle up for the third day, so it a bottom in? Arlan Suderman, StoneX, has more.
December 12, 2023 03:16 PM
Related Stories
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.
Read Next
The U.S. House approved legislation to allow year-round sales of E15 gasoline nationwide, aiming to lower fuel prices while facing pushback over potential refinery costs and the impact on the national debt.
