Grains all higher midday after a mixed start with corn and soybeans oversold and seeing corrective buying and positioning ahead of the WASDE. Cattle firm up with winter weather and higher beef, while hogs are up for the 4th day forming a season low. Kent Beadle, Paradigm Futures, has more.
Grain and Livestock Markets Turn Mostly Higher: Is a Bigger Rally in Store?
Grains all higher midday with corn and soybeans oversold and seeing some corrective buying pre-WASDE. Cattle firm up with winter weather and hogs forming a season low. Kent Beadle, Paradigm Futures, has more.
January 09, 2024 11:54 AM
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Arlan Suderman, Chief Commodities Economist with StoneX says the corn and soybean markets were trading higher yields coming into the report and saw a positive reaction as a result.
Kyle Bumsted of Allendale, Inc. says, “The way we rallied off our lows here on Friday and the bounce we saw here on Monday, it does feel like cattle put in some sort of intermediate low.”
Mike Minor of Professional Ag Marketing says corn and soybeans were positioning ahead of the November WASDE with fears of higher yield.
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