Grains extend gains after reversals and with strong exports and China soybean sales. Kevin Duling, KD Investors, says he can’t confirm a low yet. Cattle consolidate ahead of COF, while crude oil sees profit taking as well.
Grains Hold Gains After Reversals but Is this Bottoming Action?: Cattle and Crude Oil Consolidate
Grains extend gains after reversals, with strong exports & China soybean sales. Kevin Duling, KD Investors, says he can’t confirm a low yet. Cattle consolidate ahead of COF, while crude oil sees profit taking as well.
January 19, 2024 11:35 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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