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
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