Corn bounces off new lows, with soybeans lower eyeing Brazil rains and wheat seeing profit taking with rains in HRW areas. Grain markets are facing shipping issues and farmers are more unsold than normal. Nick Tsiolis, Farmers Keeper, discusses all that and basis levels.
Corn Bounces Off New Lows, Soybeans and Wheat Lower Eyeing U.S. and SA Weather
Corn bounces off new lows, soybeans lower eyeing Brazil rains and wheat seeing profit taking. Grain markets face shipping issues & farmers are more unsold than normal. Nick Tsiolis, Farmers Keeper.
December 20, 2023 09:16 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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