Grains end mostly higher on short covering correcting the oversold market condition and with help from soybean export business. But rallies will be hard to sustain amidst harvest. Cattle recover after the key reversals, hogs near chart breakout levels. Meanwhile, the Fed leaves rates unchanged, for now. Garrett Toay, AgTraderTalk, has details.
Grains Close Mostly Higher on Short Covering, Ahead of Fed Decision: Livestock Also End Strong
Oversold grains end mostly higher with short covering, but rallies are hard to sustain amidst harvest. Cattle recover after key reversals, hogs near chart breakout levels. Garrett Toay, AgTraderTalk, has details.
September 20, 2023 02:36 PM
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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.
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