Grains mixed early with wheat seeing short covering after new lows in KC and MN, row crops looking for direction and awaiting the FOMC decision. Livestock continue to build on recent gains. Vince Boddicker, Farmers Trading Company, has more.
Grains Mixed Awaiting Fresh News, Fed Decision with Short Covering in Wheat: Cattle and Hogs Continue to Grind Higher
Grains mixed early. Wheat sees short covering after new lows in KC and MN, row crops looking for direction, await FOMC. Livestock building on recent gains. Vince Boddicker, Farmers Trading Company, has more.
November 01, 2023 09:18 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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