Soybeans higher on extended weather and export biz, with corn pulled down by wheat, weekend rains, poor technicals and higher production ideas. Wheat still digesting bigger ending stocks and poor demand. Profit taking in crude oil. Cattle consolidating awaiting cash direction, with hogs lower following cutouts. Randy Martinson, Martinson Ag has details.
Soybeans Supported by Weather, Export Biz While Corn is Down with Wheat, Technicals: Crude Oil and Cattle Consolidate
Soybeans up on weather and export biz, with corn pulled down by wheat, poor technicals. Profit taking in crude oil. Cattle consolidating awaiting cash direction. Randy Martinson, Martinson Ag has details.
August 14, 2023 11:31 AM
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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.
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