Soybeans higher on China export news and SA weather, corn tries to follow after making new lows with a Mexican sale but is anchored by wheat. Wheat continues to struggle with technical selling and weak demand. Cattle try to recover after an ugly week and new lows for the move Monday morning. Mike Zuzulo, Global Commodity Analytics, has more.
Soybeans Up on SA Weather and China Export News, Corn Tries to Follow While Anchored by Wheat: Cattle See Bounce After Ugly Week
Soybeans higher on China export news and SA weather, corn tries to follow with a Mexican sale but anchored by wheat. Cattle try to recover after an ugly week. Mike Zuzulo, Global Commodity Analytics, has more.
November 13, 2023 05:27 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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