Grains close higher on corrective buying and positioning headed into the WASDE. Are the grains done going down and what will we need in the report to rally the market? Cattle built in weather premium with higher cash ideas, while hogs closed higher for a 4th day trying to confirm a season low. Brian Grete, Pro Farmer, has details.
Grains Higher on Short Covering Pre-WASDE and After Fresh Lows: Livestock Add Weather Premium
Grains close higher on corrective buying and positioning headed into the WASDE. Cattle added wx premium with higher cash ideas, hogs up for a 4th day trying to confirm a season low. Brian Grete, Pro Farmer, has details.
January 09, 2024 03:08 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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