Soybeans lower with profit taking in meal and better SA weather. That’s weighing on corn, plus lower crude oil and SRW wheat. Cattle impressively extend gains with improved cash and chart action. Hogs up for the 4th day. Can livestock keep rallying? Kent Beadle, Paradigm Futures, has more.
Soybeans Fall with Meal and SA Weather, Corn Follows Lower CH Wheat and Crude Oil: Livestock Add to Gains but for How Long?
Soybeans lower with profit taking in meal and better SA weather. That’s weighing on corn, plus lower crude oil and SRW wheat. Livestock extend gains but for how long? Kent Beadle, Paradigm Futures, has more.
October 30, 2023 11:37 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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