Grain markets seeing corrective buying except for corn which made new lows again. Cattle seeing a relief rally, as well as crude oil. Shawn Hackett, Hackett Financial Advisors, has more.
Grain, Livestock and Crude Oil Markets Recover, Except for Contract Lows in Corn
Grain markets seeing corrective buying except for corn which made new lows again. Cattle seeing a relief rally, as well as crude oil. Shawn Hackett, Hackett Financial Advisors, has more.
November 28, 2023 11:46 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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