Grains close mixed and fail to confirm the bottoms are in with a lack of follow through in corn and soybeans after reversals, strong weekly exports and China soybean biz. says the funds are selling every rally. How long will it last? Tomm Pfitzenmaier, Summit Commodity Brokerage has the answer.
Grains End Mixed and Fail to Confirm Lows as Fund Sell Every Rally: When Will That Change?
Grains close mixed & fail to confirm a low with a lack of follow through in corn & soybeans after reversals, strong weekly exports and China soybean biz. Tomm Pfitzenmaier, Summit Commodity Brokerage, has more.
January 19, 2024 02:32 PM
Related Stories
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.
Vince Boddicker of Farmers Trading Company says while no sales have been confirmed, just the rumors of China in the U.S. market looking for bids brought buyers back into the market.
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.
