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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Soybeans ended higher as rumored export business was confirmed by USDA with a flash sale of 13.2 million bu. sold to unknown destinations. However, China was also looking for corn and wheat.
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.
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