Grains break hard and make new lows in corn and soybeans with fund selling in a risk off day including crude oil, plus weekend rain in Brazil. Cattle off of highs and big early rally, despite higher cash and a winter storm. Hogs extend gains. DuWayne Bosse, Bolt Marketing, has more.
Grains Break with New Lows in Corn and Beans in Risk Off Day: Cattle Off Highs Despite Higher Cash
New lows in corn & soybeans on risk off funding selling following crude oil, plus rains in Brazil. Cattle off highs, despite strong cash & wx. Hogs extend gains. DuWayne Bosse, Bolt Marketing, has more.
January 08, 2024 12:31 PM
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.
