Corn up for the fifth day on short covering heading into the reports and the lower dollar. Soybeans close back above $13 but struggle due to slow exports and Brazil competition. KC and MN wheat make new lows. Cattle see a technical bounce along with stock market recovery, while hogs rally into the report. Rich Nelson, Allendale has analysis.
Corn Sees Pre-Report Short Covering, Beans Slide on Slow Exports: Cattle Bounce with Equities, Hogs Rally into Report
Corn up on pre-report short covering, beans slide on slow exports. KC and MN wheat make new lows. Cattle see a technical bounce with equities, while hogs rally pre-report. Rich Nelson, Allendale has analysis.
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Dan Basse, president of Ag Resource Company, says he thinks the soybean market put in a bottom earlier in the week.
Scott Varilek with Kooima Kooima Varilek says the live cattle were overbought after rallying $21 off the lows.
Sam Hudson of Cornbelt Marketing says soybeans bounced as harvest pressure is subsiding and that should allow a bottom to be forged, especially with China buying.
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