Soybeans and new contract highs in meal fuel the rally putting in SA weather premium and as export business picks up to China. Corn scores a key reversal following soybeans, but is it bottoming? Wheat is a reluctant follower. Cattle bounce off new lows but will funds continue to sell into this Friday’s COF Report? Hogs anticipate a seasonal cash low. Brian Grete, Pro Farmer, covers it all.
Markets End in the Green! Soybeans & Meal Lead, Trigger a Key Reversal in Corn: Cattle See Corrective Buying Off New Lows
Beans & meal up on SA weather, China export biz. Corn scores a key reversal but is it bottoming? Wheat is a reluctant follower. Cattle bounce off new lows. Hogs anticipate a cash low. Brian Grete, Pro Farmer, has more.
November 13, 2023 02:41 PM
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Sam Hudson of Cornbelt Marketing says soybeans bounced as harvest pressure is subsiding and that should allow a bottom to be forged, especially with China buying.
Mark Schultz of North Star Commodity says the grain markets are oversold and due for a correction.
Naomi Blohm with Total Farm Marketing says the technical action is feeling like the market is probing for a low.
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