Corn and wheat rebound on corrective buying, but soybeans and meal still lower with Brazil rain chances. Cattle and hogs both see more fund selling with higher weights, lower cash. Vince Boddicker, Farmers Trading Company, has more.
Corn and Wheat Recover with Soybeans Down on Brazil Rain Chances: Livestock Fall with Lower Cash, Technical Selling
Corn and wheat rebound on corrective buying, but soybeans and meal still lower with Brazil rain chances. Cattle see more fund selling w/lower cash and hogs follow. Vince Boddicker, Farmers Trading Company, has more.
December 01, 2023 11:38 AM
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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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