USDA reports are bearish for all the grains with higher yield, production and ending stocks for corn, beans and wheat. Corn takes out September lows as a result. Cattle make new lows for the move with fund selling and lower cash at $180-$181 South down $4 with North at $181 and $287, down $5 from WA. Brian Splitt, AgMarket.Net, has analysis.
USDA Reports Lean Bearish for Grains with Higher Yields, Ending Stocks: Funds Slam Cattle with Lower Cash
USDA reports are bearish with higher yield, production and ending stocks. Corn takes out September lows. Funds slam cattle with lower cash. Brian Splitt, AgMarket.Net, has analysis.
November 09, 2023 11:52 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.
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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