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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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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