Soybeans fall with Brazil rain forecasts pulling down corn, as well as the closure of the Mexican border to rail shipments. Wheat sees corrective buying on Red Sea developments. Cattle are mixed awaiting COF and cash, hogs fall with lower LHI & cutouts. Vince Boddicker, Farmers Trading Company, has details.
Soybeans Fall on Brazil Rain Forecast, Pulls Down Corn, While Wheat Bounces: Cattle Mixed Await Cash, COF
Soybeans fall on Brazil rain forecasts pulling down corn, plus U.S. MX rail issue. Wheat sees corrective buying. Cattle mixed awaiting COF & cash, hogs fall w/LHI. Vince Boddicker, Farmers Trading Company, has more.
December 19, 2023 11:45 AM
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Rich Nelson, chief strategist for Allendale says row crops are pausing right now until the weather story is really decided, while wheat is concerned about rising tensions in the Black Sea region.
Kevin Duling with KD Investors says corn and soybeans eased with a 1% improvement in ratings, while the weather is moderating.
Dave Chatterton with Strategic Farm Marketing says the market initially traded the heat for this week which is unwelcome for corn during pollination time.
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