Corn and soybeans open higher extending gains with help from export news but then hit resistance and see profit taking and farmer selling. Wheat trying to hold gains with China biz and the chart reversal. Cattle consolidate after working in higher cash. DuWayne Bosse, Bolt Marketing, has details.
Row Crops Hit Chart Resistance See Profit Taking, Wheat Tries to Hold Gains with China Biz: Cattle Consolidate
Corn and soybeans open higher then hit resistance, see profit taking and farmer selling. Wheat trying to hold gains with China biz. Cattle consolidate despite higher cash. DuWayne Bosse, Bolt Marketing, has more.
October 13, 2023 11:37 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.
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