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.
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.
December 01, 2023 04:04 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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