Grains start higher with follow through buying and export news, but corn and beans hit chart resistance and retrace. Wheat is supported by China biz and the Middle East conflict, which is also pushing crude oil higher. Cattle start higher on higher cash, then see profit taking. Darin Newsom, Barchart, has more.
Grains Start Higher but Corn and Soybeans Fail, Wheat Sees China Biz: Cattle Consolidate
Grains start higher but row crops hit chart resistance and retrace. Wheat supported by China biz, oil up on Middle East conflict. Cattle start higher, then see profit taking. Darin Newsom, Barchart, has more.
October 13, 2023 09:33 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.
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