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.

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.

AgWeb-Logo crop
Related Stories
Brad Kooima of Kooima Kooima Varilek says a market that moves three days against the last trend often confirms a low.
With the bounce on Tuesday and the friendly news from USDA there are hopes that the corn market has put in a low. Randy Martinson of Martinson Ag isn’t sure a bottom has been forged...yet.
Arlan Suderman, Chief Commodities Economist with StoneX says the corn and soybean markets were trading higher yields coming into the report and saw a positive reaction as a result.
Read Next
A rare, late-season cut of 1.6 bu. per acre to the national corn yield dropped ending stocks to 1.758 billion bushels, while stronger export demand trimmed soybean carryout despite record yields across the Western Corn Belt.
Get News Daily
Get Market Alerts
Get News & Markets App