Grains see follow through fund selling with poor technicals and improved SA weather. Cattle lower on profit taking and lower boxed beef, with short covering in hogs. The dollar higher for the 4th day ahead of the FOMC minutes. Tomm Pfitzenmaier, Summit Commodity Brokerage, has details.
Grains See Follow Through Technical Selling: Profit Taking in Cattle and Hogs
Grains see follow through fund selling with poor technicals and improved SA weather. Cattle lower on profit taking and lower boxed beef, with short covering in hogs. Tomm Pfitzenmaier, Summit Commodity, has details.
January 03, 2024 09:16 AM
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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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