Soybean fall with rain forecasted for Brazil, corn follows with concerns about rail crossing closures on the Mexican border. Wheat sees short covering with talk of China biz. Cattle consolidate ahead of cash and COF. Kevin Duling, KD Investors has details plus outlook on the dollar and crude oil.
Soybeans Fall on Brazil Forecasts and Corn Follows, Shorts Cover in Wheat: Cattle Consolidate
Soybean fall with Brazil rain forecast; corn follows with concerns about the MX rail issue. Wheat sees short covering with talk of China biz. Cattle consolidate awaiting cash/COF. Kevin Duling, KD Investors has more.
December 19, 2023 02:52 PM
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Soybeans were sharply lower in the overnight trade and then saw a gap higher open during the day session on talk that China was in pricing U.S. soybeans says Brian Grete with Commstock Investments.
Vince Boddicker of Farmers Trading Company says while no sales have been confirmed, just the rumors of China in the U.S. market looking for bids brought buyers back into the market.
Grains saw nice reversals and closed higher on Monday, which was a victory considering the amount of bearish news the market had to absorb according to Kevin Duling with KD Investors.
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