Funds sell soybeans on better Brazil wx, but how big is the crop? Wheat sees short covering w/a lower $, corn follows. Cattle consolidate on lower beef, hogs bounce off contract lows. Arlan Suderman, StoneX has more.
Soybean Fall with Brazil Rain, but How Big is the Crop? Wheat, Hogs & Corn Bounce, While Cattle Consolidate
Funds sell soybeans on better Brazil wx, but how big is the crop? Wheat sees short covering w/a lower $, corn follows. Cattle consolidate on lower beef, hogs bounce off contract lows. Arlan Suderman, StoneX has more.
January 04, 2024 02:37 PM
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Arlan Suderman, Chief Commodities Economist with StoneX says the corn and soybean markets were trading higher yields coming into the report and saw a positive reaction as a result.
Kyle Bumsted of Allendale, Inc. says, “The way we rallied off our lows here on Friday and the bounce we saw here on Monday, it does feel like cattle put in some sort of intermediate low.”
Mike Minor of Professional Ag Marketing says corn and soybeans were positioning ahead of the November WASDE with fears of higher yield.
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