Corn takes out support with harvest pressure, soybeans higher with talk of China biz and wheat sees corrective buying. Grains all higher for the month but harvest prices for crop insurance are lower than last year. Cattle higher but into chart resistance. Randy Martinson, Martinson Ag, has details.
Corn Sees Harvest Pressure, Soybean up on Talk of China Biz, Wheat Sees Corrective Buying: Cattle Into Resistance
Corn takes out support with harvest pressure, soybeans higher with talk of China biz and wheat sees corrective buying. Cattle higher but into chart resistance. Randy Martinson, Martinson Ag, has details.
November 01, 2023 11:46 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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