Soybeans rally on SA weather, export demand and seasonals and that supports corn and wheat. The lower dollar and MX corn biz was also positive. Poor chart action in cattle, while hogs bounce but are into resistance so can they keep going? Vince Boddicker, Farmers Trading Company, has more.
Soybeans Up on SA Weather, Export Demand, Corn and Wheat Follow: Poor Technical Action in Cattle, but Hogs End Higher
Soybeans rally on SA weather, export demand, which supports corn and wheat as well as MX biz. Poor chart action in cattle, while hogs bounce but are into resistance. Vince Boddicker, Farmers Trading Company, has more.
November 06, 2023 02:20 PM
Related Stories
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.
Read Next
Farmers in parts of the High Plains and Southeast need a break from relentless drought, while nationwide planting progress is outpacing the five-year average.
