Soybeans higher with a strong NOPA crush and export inspections plus higher bean oil. Corn lower after hitting $5 chart resistance with harvest progressing. Wheat mixed but its mainly a follower of corn and beans. Cattle consolidate ahead of the COF and despite higher cash and cutouts, hogs fall with soft cash and product values. Brian Grete, Pro Farmer, has more.
Soybeans up on Demand News, Corn Fails Shy of $5, Wheat Mixed: Cattle Consolidate Pre-Report
Soybeans up on demand news and bean oil rally. Corn lower after hitting $5 resistance. Wheat mixed. Cattle consolidate ahead of the COF, hogs fall with soft cash and product. Brian Grete, Pro Farmer, has more.
October 16, 2023 02:29 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.
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