Soybeans see corrective buying with disappointing Brazil rains and extended forecasts. Wheat sees more contract lows in KC on poor demand and corn follows. But with hedge pressure corn is also fading Mexico biz. Funds use early strength to liquidate in both cattle and hogs. Kent Beadle, Paradigm Futures, has more.
Soybeans up Disappointing Brazil Rain, Wheat Lower, Corn Follows: Funds Use Early Strength to Sell Cattle and Hogs
Soybeans up on corrective buying, disappointing Brazil rains. Wheat lower on poor demand, dragging down corn. Funds use early strength to liquidate in both cattle and hogs. Kent Beadle, Paradigm Futures, has more.
November 20, 2023 11:35 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.
