Grains consolidating as funds are back in selling end of week, Soybean basis levels in Brazil have collapsed and SA weather looks a bit more favorable. Cattle make new highs again pushed by higher cash. Crude oil stalls after 9-weeks highs Thursday. Darin Newsom, Barchart, has details.
Funds Return to Sell Grains with Brazil Basis Hurting Soybeans: Crude Oil Stalls, Cattle Make More Highs
Grains consolidating as funds are back in selling end of week. Cattle make new highs again pushed by higher cash. Crude oil stalls after 9-weeks highs Thursday. Darin Newsom, Barchart, has details.
January 26, 2024 09:29 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
The U.S. House approved legislation to allow year-round sales of E15 gasoline nationwide, aiming to lower fuel prices while facing pushback over potential refinery costs and the impact on the national debt.
