Grains fade post-WASDE with only slight revisions on profit taking and Brazil weather. Livestock hold gains above contract lows, but for how long? Matt Bennett, AgMarket.Net has analysis.
Grains Fade Post WASDE on Profit Taking, Brazil Weather: Cattle and Hogs Hold Above Contract Lows but For How Long?
Grains fade post-WASDE with only slight revisions on profit taking and Brazil weather. Livestock hold gains above contract lows, but for how long? Matt Bennett, AgMarket.Net has analysis.
December 08, 2023 02:17 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.
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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