Soybeans surge on SA weather concerns, export biz, lower dollar which pulls wheat higher and corn off two-year lows. Livestock see profit taking after a higher week and despite better cash cattle news. Bryan Doherty, Total Farm Marketing, has more.
Soybeans Surge on SA Weather, Export Biz, Which Pulls up Corn and Wheat: Livestock Down on Profit Taking
Soybeans surge on SA weather concerns, export biz, lower $, which pulls wheat higher, corn off two-year lows. Livestock see profit taking, despite strong cash cattle news. Bryan Doherty, Total Farm Marketing, has more.
November 03, 2023 03:45 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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