Grains end lower in reaction to a bearish WASDE Report and fading big soybean export sales. Corn took out the September lows so how low will the market go? And can soybeans stay down with SA weather issues? Cattle see massive fund liquidation amid lower cash at $180-mostly $181 in the south down $4, and Northern trade $181/$287 down $5. While hogs end mixed. Don Roose, U.S. Commodities, has details.
Grains Lower on Bearish Report and Fade Big Soybean Export Sales: Cattle Melt on Fund Selling, Lower Cash
Grains lower after a bearish WASDE Report, fading big soybean export sales but still respecting SA weather. Cattle see massive fund liquidation amid lower cash, hogs mixed. Don Roose, U.S. Commodities, has details.
November 09, 2023 03:01 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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