Grains bounce except corn which hits new contract lows on continued hedge pressure and liquidation before first notice day. Soybeans get help from 4.5 mb of export biz. Cattle try to recover but are funds done liquidating and milk prices continue to drift with lower product values. Bryan Doherty, Total Farm Marketing, covers it all.
Soybeans and Wheat See Corrective Buying, But Corn Hits New Lows on Liquidation, Hedge Pressure: Cattle Consolidate, Milk Drifts
Wheat & beans see corrective buying but corn hits new lows on hedge pressure, liquidation. Cattle consolidate but are funds done liquidating? Milk prices continue to drift. Bryan Doherty, Total Farm Marketing, has more.
November 28, 2023 09:21 AM
Related Stories
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.
Read Next
Farmers in parts of the High Plains and Southeast need a break from relentless drought, while nationwide planting progress is outpacing the five-year average.
