Corn sees report hangover with lower wheat, soybeans pop with lower Brazil production and a record crush figure. Cattle try to hold gains watching wx. and awaiting cash, hogs look tired and concerned about hogs backing up. Vince Boddicker, Farmers Trading Company, has more.
Corn and Wheat Lower, While Soybeans Bounce on Crush & Lower Brazil Crop: Cattle Firm with Higher Beef
Corn sees report hangover with lower wheat, soybeans pop with lower Brazil crop, record crush. Cattle try to hold gains watching wx, cash, while hogs look tired. Vince Boddicker, Farmers Trading Company, has more.
January 16, 2024 01:24 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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