Corn and soybeans end higher on weather and yield concerns after the Pro Farmer crop estimates and with new export biz. Wheat sells off ahead of first notice day. Cotton also struggles, but livestock stage a strong rally. John Payne, Hedge Point Global Markets breaks it down.
Row Crops Higher on Weather & Yield Concerns, Wheat and Cotton Struggle, While Livestock End Strong
Row crops up on weather, yield concerns and with new export biz. Wheat sells off ahead of first notice day. Cotton also struggles, but livestock stage a strong rally. John Payne, Hedge Point Global Markets has more.
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Don Roose of U.S. Commodities says talk of China buying U.S. corn and soybeans helped spur the rally, but it was a combination of factors.
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.
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