Soybeans rally on SA weather and China trade talks, which is pulling up corn. Wheat is a reluctant follower with weak demand. Cattle recover from new lows for the move, while hogs follow cattle with China hopes also in the backdrop. Kent Beadle, Paradigm Futures, has details.
Soybeans Lead on China Talks and SA Weather, Spills Over to Corn: Cattle Bounce off Lows and Hogs Follow
Soybeans rally on SA weather and China export hopes, pulling up corn. Wheat is a reluctant follower with weak demand. Cattle recover from new lows for the move, hogs follow. Kent Beadle, Paradigm Futures, has more.
November 13, 2023 11:34 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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