Soybeans see profit taking with Brazil rain, corn and wheat supported by export sales and corrective buying. Cattle 2-sided awaiting cash news but trying to forge a low, while hogs are quietly mixed. Chuck Shelby, Risk Management Commodities, has more.
Profit Taking Hit Beans, Pulls Corn and Wheat Off Highs: Cattle 2-Sided Awaiting Cash
Soybeans see profit taking w/Brazil rain, corn & wheat supported by export sales, corrective buying. Cattle 2-sided but trying to make a low, while hogs are mixed. Chuck Shelby, Risk Management Commodities, has more.
November 22, 2023 11:40 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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