Grains still higher at midday but row crops are off session highs with some profit taking after running into chart resistance and going into a holiday, but still supported by Brazil weather. Cattle see fund selling. Allison Thompson, The Money Farm, has more.
Grains Higher on SA Weather but Off Highs on Profit Taking: More Fund Selling in Cattle
Grains still higher but row crops off session highs w/some profit taking after running into chart resistance, but still supported by Brazil weather. Cattle see fund selling. Allison Thompson, The Money Farm, has more.
November 21, 2023 11:13 AM
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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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