Soybeans see follow-through selling on WASDE hangover, corn rallies with wheat after holding support in the face of bearish report news, and has wheat finally bottomed? Cattle consolidating after new highs and with bearish CPI data. Allison Thompson, The Money Farm, has details.
Soybeans Lower, Corn Rallies with Wheat After Holding Support: Cattle Consolidate With Bearish CPI Data
Soybeans see more selling on WASDE hangover, corn rallies with wheat after holding support and has wheat finally bottomed? Cattle consolidate with bearish CPI data. Allison Thompson, The Money Farm, has more.
September 13, 2023 09:20 AM
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Wednesday morning USDA reported a flash sale of 13.2 million bushels of soybeans to unknown destinations and Randy Martinson with Martinson Ag says the market is betting that its China.
Soybeans were sharply lower in the overnight trade and then saw a gap higher open during the day session on talk that China was in pricing U.S. soybeans says Brian Grete with Commstock Investments.
Vince Boddicker of Farmers Trading Company says while no sales have been confirmed, just the rumors of China in the U.S. market looking for bids brought buyers back into the market.
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