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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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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