Grains mixed and in holiday mode. Early gains in soybeans on 21.4 mb export biz, but Brazil rain chances cap rally. SAF decision fails to excite corn, while wheat is higher on technical buying. Livestock 2-sided with sloppy cash but cattle could post a higher weekly close. DuWayne Bosse, Bolt Marketing, has more.
Grains Mixed in Holiday Mode, Despite Big Soybean Export Sale, SAF Decision: Livestock 2-Sided
Grains mixed in holiday mode. Early gains in beans on export biz, but Brazil rain chances cap rally. Corn follows, wheat is higher. Cattle and hogs 2-sided. DuWayne Bosse, Bolt Marketing, has more.
December 15, 2023 09:29 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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