Corn and wheat lower on technical selling, harvest pressure in corn, the higher dollar, plus South American weather, soybeans see light short covering. Cattle open higher after an ugly technical day Monday but fail to hold gains. Hogs mixed but holding contract lows. John Heinberg, Total Farm Marketing, has more.
Corn and Wheat Slide on Technical Selling, SA Weather, Slight Bounce in Beans: Cattle Try to Recover After Monday’s Chart Damage
Corn & wheat lower on technical selling, harvest pressure, plus SA weather, soybeans see short covering. Cattle open higher but struggle to hold gains. Hogs mixed. John Heinberg, Total Farm Marketing, has more.
October 24, 2023 09:17 AM
Related Stories
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.
Read Next
Farmers in parts of the High Plains and Southeast need a break from relentless drought, while nationwide planting progress is outpacing the five-year average.
