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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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.
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