Grain and livestock chop ahead of the holiday, with end of year positioning and profit taking. Cattle mixed and ignore stronger cash as livestock gear up for USDA reports. DuWayne Bosse, Bolt Marketing, has details.
Markets Mixed to Higher as Traders take EOY Profits, Position Ahead of Holiday, and USDA Reports
Grain and livestock chop ahead of the holiday, with end of year positioning and profit taking. Cattle mixed and ignore stronger cash as livestock gear up for USDA reports. DuWayne Bosse, Bolt Marketing, has details.
December 22, 2023 09:31 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.
Sam Hudson with Cornbelt Marketing says corn and soybeans were firmer on inflationary buying and optimism regarding the China summit. Cattle soared with higher cash.
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