After two up days funds use strength in the cattle to sell so there’s no confirmation of a bottom yet. Hogs slide with lower cash. Corn follows wheat higher, with soybeans seeing some profit taking. Brad Kooima, Kooima Kooima Varilek has more.
Funds Return as Sellers in Cattle and Hogs: Corn Follows Wheat Higher, Soybeans Ease
After two up days funds use strength in the cattle to sell. Hogs slide with lower cash. Corn follows wheat higher, with soybeans seeing some profit taking. Brad Kooima, Kooima Kooima Varilek has more.
December 12, 2023 09:12 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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