The grain market comes off the lows but can it close higher pre-report, with headwinds like the Brazil crop and slow demand? How much wx premium does the cattle market need to add? What is the outlook for outside and equity markets? Darin Newsom, Barchart, has answers.
Grains Off Lows but Can it Rally with Big Supplies, Weak Demand and What’s the Outlook for Outside Markets?
Grains off lows but can it rally pre-report, with headwinds like Brazil wx & slow demand? How much wx premium does the cattle market need? What’s the outlook for outside markets? Darin Newsom, Barchart, has answers.
January 10, 2024 11:54 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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