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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Soybeans ended higher as rumored export business was confirmed by USDA with a flash sale of 13.2 million bu. sold to unknown destinations. However, China was also looking for corn and wheat.
Wednesday morning USDA reported a flash sale of 13.2 million bushels of soybeans to unknown destinations and Randy Martinson with Martinson Ag says the market is betting that its China.
Soybeans were sharply lower in the overnight trade and then saw a gap higher open during the day session on talk that China was in pricing U.S. soybeans says Brian Grete with Commstock Investments.
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