Corn and wheat see corrective buying with strong exports and easing of liquidation on first notice day. End of month profit taking hit the soybean complex with an eye on Brazil wx. Cattle fall with lower cash but end off lows, hogs mostly higher. Oliver Sloup, Blue Line Futures, has details.
Corn and Wheat Up on Exports and Corrective Gains, Soybeans Slide: Cattle Retreat with Lower Cash, Hogs Extend Gains
Corn and wheat see corrective buying with strong exports. Profit taking hit the soybean complex with an eye on Brazil wx. Cattle fall with lower cash, hogs mostly higher. Oliver Sloup, Blue Line Futures, has more.
November 30, 2023 02:40 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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