Corn and wheat see corrective buying. Soybean slide with improved Brazil weather despite lower estimates. Cattle consolidated with caution ahead of the COF report, despite some higher Northern cash trade. Hogs saw bull spreading with strong weekly exports, awaiting the Hogs and Pigs data. Jeff Hoogendoorn, with Professional Ag Marketing, has details.
Corn and Wheat Bounce, While Brazil Rain Sinks Soybeans: Cattle Cautious Pre-COF
Corn & wheat see corrective buying. Soybean slide on Brazil rain. Cattle consolidate pre-COF, despite better cash. Hogs saw bull spreading on strong exports. Jeff Hoogendoorn, Professional Ag Marketing, has details.
December 21, 2023 02:56 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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