Grains finally end higher but is it just a dead cat bounce because the market is oversold? Cattle make new highs for the move heading into the COF, while crude oil rallies in a risk on day with passage of the CR. Jim McCormick, AgMarket.Net has the wrap up!
Grains Finally Close Higher but Can the Market Build on It? Cattle and Crude Oil Also Rally
Grains finally end higher, but can the market build on it? Cattle make new highs for the move pre-COF, while crude oil rallies in a risk on day. Jim McCormick, AgMarket.Net has more.
January 18, 2024 03:12 PM
Related Stories
Arlan Suderman, Chief Commodities Economist with StoneX says the corn and soybean markets were trading higher yields coming into the report and saw a positive reaction as a result.
Kyle Bumsted of Allendale, Inc. says, “The way we rallied off our lows here on Friday and the bounce we saw here on Monday, it does feel like cattle put in some sort of intermediate low.”
Mike Minor of Professional Ag Marketing says corn and soybeans were positioning ahead of the November WASDE with fears of higher yield.
Read Next
A rare, late-season cut of 1.6 bu. per acre to the national corn yield dropped ending stocks to 1.758 billion bushels, while stronger export demand trimmed soybean carryout despite record yields across the Western Corn Belt.
Commodity Market Futures
Futures prices on grains, livestock, oil and more
Farm Journal TV
Trusted ag insights and real stories from rural America. Start your free trial today.
Pro Farmer
Join Pro Farmer today to access trusted market intelligence and expert analysis that help you make more confident decisions.
