Grains lower early with livestock higher. However, corn and soybeans have been moving sideways, so what will it take to break out of that range? Can soybeans rally if corn doesn’t and when should livestock producers buy feed? Jon Scheve, Superior Feed Ingredients, has more.
Grains Lower Early, Livestock Higher: When Will Row Crops Break Out of Their Sideways Range? When Should Livestock Producers Buy Feed?
Grains lower, livestock higher. But when will row crops break out of their sideways ranges? Can beans rally if corn doesn’t? When should livestock producers buy feed? We ask Jon Scheve, Superior Feed Ingredients.
October 30, 2023 09:31 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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