Soybeans see double digits gains building back Brazil weather premium, with wheat down for the second day on profit taking and corn follows. Cattle futures extend gains for a second day so is the bottom in? Dave Chatterton, Strategic Farm Marketing, has more.
Soybeans Add Risk Premium, While Wheat Sees Profit Taking: Cattle Extend Gains for Second Day
Soybeans rally building back Brazil weather premium, with wheat down for the second day on profit taking and corn follows. Cattle futures extend gains. Dave Chatterton, Strategic Farm Marketing, has more.
December 11, 2023 03:51 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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