Grains lower led by soybeans with rain chances for Brazil and some technical selling. Cattle see short covering ahead of the COF and recovering after the Tyson cyberattack. Hogs firm up with cattle but still rangebound. Vince Boddicker, Farmers Trading Company, has details.
Soybeans Lead Grains Lower on Brazil Rain Chances, Technical Selling: Cattle Bounce Before COF, Post Tyson Cyberattack
Soybeans pull grains lower with rain chances for Brazil and technical selling. Cattle see short covering pre-COF and after the Tyson cyberattack. Hogs firm. Vince Boddicker, Farmers Trading Company, has details.
November 17, 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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