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
Related Stories
Soybeans ended higher as rumored export business was confirmed by USDA with a flash sale of 13.2 million bu. sold to unknown destinations. However, China was also looking for corn and wheat.
Wednesday morning USDA reported a flash sale of 13.2 million bushels of soybeans to unknown destinations and Randy Martinson with Martinson Ag says the market is betting that its China.
Soybeans were sharply lower in the overnight trade and then saw a gap higher open during the day session on talk that China was in pricing U.S. soybeans says Brian Grete with Commstock Investments.
Read Next
A two-pass boron strategy at bloom and pod set shows consistent yield payoffs across the Corn Belt, though agronomists warn the line between benefit and toxicity can be narrow.
