Grains end higher with soybeans holding Brazil weather premium, corn follows and wheat was oversold and saw short covering. Cattle see long funds selling on any strength while hogs saw pressure from lower cash and China herd liquidation. DuWayne Bosse, Bolt Marketing, joins us from the tractor cab.
Soybeans Hold SA Weather Premium, Corn and Wheat Follow with Corrective Buying: Funds Sell Livestock
Grains up with soybeans adding Brazil wx premium, corn follows and wheat saw corrective buying. Cattle see long funds selling on any strength, while hogs fall. DuWayne Bosse, Bolt Marketing, joins us from the tractor.
November 21, 2023 02:51 PM
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Sam Hudson of Corn Belt Marketing says funds sold the early bounce in grain markets with no bullish story.
After a down day on Tuesday the grain markets were higher early Wednesday a result of short covering according to Lane Akre, economist with Pro Farmer. However, he thinks the market has also taken out too much weather premium.
Dan Basse, president of Ag Resource Company, believes China bought a half million tons of U.S. soybeans last week.
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