Soybeans under pressure on China GDP news, while corn and wheat struggle to hold early gains. Why? Cattle consolidating awaiting cash, while hogs remain concerned about weather backup up marketings. Kent Beadle, Paradigm Futures, has details.
Soybeans Fall, While Corn and Wheat Struggle to Hold Gains: Cattle Consolidate Awaiting Cash
Soybeans fall on China GDP news, while corn and wheat struggle to hold early gains. Why? Cattle consolidate awaiting cash, while hogs struggle with processing hiccpus. Kent Beadle, Paradigm Futures, has details.
January 17, 2024 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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