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
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Rich Nelson, chief strategist for Allendale says row crops are pausing right now until the weather story is really decided, while wheat is concerned about rising tensions in the Black Sea region.
Kevin Duling with KD Investors says corn and soybeans eased with a 1% improvement in ratings, while the weather is moderating.
Dave Chatterton with Strategic Farm Marketing says the market initially traded the heat for this week which is unwelcome for corn during pollination time.
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