Grains setting back on profit taking, fund selling and rain chances in Brazil. Cattle see 2-sided trade with funds not done selling. The DOW hits news highs for the year. Darin Newsom, Barchart, has details.
Grains Lower on Profit Taking and Brazil Rain Chances: Cattle 2-Sided While DOW Makes Yearly High
Grains setting back on profit taking, fund selling and rain chances in Brazil. Cattle bounce, while the DOW hits news highs for the year. Darin Newsom, Barchart, has details.
December 01, 2023 09:09 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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