Soybeans up on technical buying but corn falls with wheat on profit taking and the higher $. New highs in cattle as funds buy with firmer cash ideas, hogs fall on lower cutouts and strike talk at a Minnesota plant. Mark Schultz, Northstar Commodity has details.
Soybeans See Technical Buying, Corn Follows Wheat Lower on Profit Taking, Higher Dollar: Cattle Back Into New Highs
Soybeans see fund buying, corn falls with wheat on profit taking and the higher $. New highs in cattle as funds buy w/firmer cash ideas. Hogs fall with cutouts and strike talk. Mark Schultz, Northstar Commodity has more.
September 14, 2023 02:38 PM
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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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