Soybeans adding Brazil weather premium with help from export biz, corn tried to follow but got pulled down by wheat which is seeing profit taking. Cattle struggle to hold gains while keeping an eye on economic news and the FOMC decision. Randy Martinson, Martinson Ag, has more.
Soybeans Add Brazil Risk Premium, Wheat Sees Profit Taking Pulling Down Corn: Cattle Try to Hold Gains
Soybeans add Brazil weather premium with help from export biz, corn tried to follow but got pulled down by wheat which is seeing profit taking. Cattle struggle to hold gains. Randy Martinson, Martinson Ag, has more.
December 11, 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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