Grains are mixed with positioning ahead of the reports and weak exports, soybeans are oversold and seeing corrective buying. Have the grain markets already priced in a bearish report? Cattle reversed a lower start with higher cash ideas and weather supportive. Chip Nellinger, Blue Reef Agri-Marketing has more.
Soybeans See Corrective Bounce, Corn & Wheat Struggle but Have the Markets Priced in Bearish Reports? Cattle Up on Wx and Cash Ideas
Grains are mixed with positioning ahead of the reports and weak exports, soybeans are oversold and seeing corrective buying. Cattle up on higher cash ideas and wx. Chip Nellinger, Blue Reef Agri-Marketing has more.
January 11, 2024 01:25 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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