Corn and Wheat See More Short Covering, Profit Taking on Brazil Rain Chances Hit Soybeans: Livestock Fall With Cash and Higher Weights

Corn and wheat higher short covering. Profit taking hit soybeans and meal on rain chances in Brazil. Cattle and hogs see selling with lower cash and higher weights. Mike Minor, Professional Ag Marketing has more.

Corn and wheat close higher Friday and for the week on short covering, so can the market build on it? Profit taking hit soybeans and meal on rain chances in Brazil. Cattle and hogs see selling with lower cash and higher weights. Mike Minor, Professional Ag Marketing has more.

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Sam Hudson of Corn Belt Marketing says funds sold the early bounce in grain markets with no bullish story.
After a down day on Tuesday the grain markets were higher early Wednesday a result of short covering according to Lane Akre, economist with Pro Farmer. However, he thinks the market has also taken out too much weather premium.
Dan Basse, president of Ag Resource Company, believes China bought a half million tons of U.S. soybeans last week.
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