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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Soybeans ended higher as rumored export business was confirmed by USDA with a flash sale of 13.2 million bu. sold to unknown destinations. However, China was also looking for corn and wheat.
Wednesday morning USDA reported a flash sale of 13.2 million bushels of soybeans to unknown destinations and Randy Martinson with Martinson Ag says the market is betting that its China.
Soybeans were sharply lower in the overnight trade and then saw a gap higher open during the day session on talk that China was in pricing U.S. soybeans says Brian Grete with Commstock Investments.
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