Soybeans higher with new contract highs in meal and talk of China biz and corn tried to follow with higher crude oil but was held back by wheat. Wheat saw profit taking with bearish Black Sea export news. Cattle higher with improved cash but can that market recover with the macro climate growing bearish? Shawn Hackett, Hackett Financial Advisors, has more.
Soybeans Rally with Meal, China Biz and Corn Tries to Follow: Cattle Rally with Improved Cash
Soybeans up w/meal and talk of China biz and corn tried to follow. Wheat saw profit taking with bearish Black Sea export news. Cattle higher with improved cash. Shawn Hackett, Hackett Financial Advisors, has more.
October 27, 2023 02:20 PM
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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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