Grains see early strength with better economic news out of China and some lower private estimates on Brazil corn and soybeans. Weekly exports were better and while the China wheat cancellation was confirmed the market has priced it in. Corn was able to get above the 20-day moving average and we may be seeing some short covering in all the grains ahead of the WASDE. Cattle are mixed this morning ahead of cash development, hogs mostly higher trying to recover after profit taking and hedge pressure Wednesday. Kent Beadle, Paradigm Futures, has more.
Grains Rally Early Moving Past China Wheat Cancellation: So, What’s Driving the Rally?
Grains see early strength ahead of the WASDE and with some better demand news. Cattle are mixed ahead of cash development, hogs mostly higher trying to recover. Kent Beadle, Paradigm Futures, has more.
March 07, 2024 09:19 AM
Related Stories
Mike Minor of Professional Ag Marketing says corn and soybeans were positioning ahead of the November WASDE with fears of higher yield.
Mike Minor of Professional Ag Marketing says corn and soybeans were positioning ahead of the November WASDE with fears of higher yield.
Joe Kooima with Kooima Kooima Varilek says its difficult to say because the fundamentals are still sluggish with the north seeing heavy weight cattle that have not been able to find a home.
Read Next
A showdown is erupting in the most significantly hot property rights case in the U.S.
Commodity Market Futures
Futures prices on grains, livestock, oil and more
Farm Journal TV
Trusted ag insights and real stories from rural America. Start your free trial today.
Pro Farmer
Join Pro Farmer today to access trusted market intelligence and expert analysis that help you make more confident decisions.
