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.

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.

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Sam Hudson of Corn Belt Marketing says funds sold the early bounce in grain markets with no bullish story.
After a down day on Tuesday the grain markets were higher early Wednesday a result of short covering according to Lane Akre, economist with Pro Farmer. However, he thinks the market has also taken out too much weather premium.
Dan Basse, president of Ag Resource Company, believes China bought a half million tons of U.S. soybeans last week.
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