Grains close mostly higher Friday but were down for the week on technical selling and with more favorable weather in Brazil and U.S. winter wheat areas. Markets will start next week assessing rains in Brazil. Livestock will react to Friday’s USDA reports which were friendly for hogs and neutral to slightly bearish for cattle with a higher-than-expected placements figure. Don Roose, U.S. Commodities has details.
Grains Mixed Friday but Down for the Week Watching SA Crop: USDA Reports Friendly for Hogs, Neutral/Bearish Cattle
Grains mostly higher Friday but down for the week on technical selling, with more favorable wx in Brazil. USDA reports friendly for hogs, neutral to slightly bearish for cattle. Don Roose, U.S. Commodities has more.
December 22, 2023 03:07 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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