Soybeans and products lead gains adding Brazil weather premium, corn is reluctant follower with wheat making new lows on poor demand. Cattle end mixed and disappoint after the Cattle on Feed Report, and the second big up day in crude oil. Tommy Grisafi, Advance Trading, has analysis.
Soybeans Add Brazil Weather Premium, Corn a Reluctant Follower with Lower Wheat: Cattle Disappoint, Crude Oil Surges
Soybeans up adding Brazil weather premium, corn is reluctant follower with wheat making new lows on poor demand. Cattle disappoint after the COF Report, with crude oil surging. Tommy Grisafi, Advance Trading, has more.
November 20, 2023 03:05 PM
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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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