Corn and wheat try to hold early gains spurred by another 7.3 mb SRW wheat sale to China but are running into chart resistance and see some farmer selling and hedge pressure. Plus, soybeans have pulled back removing Brazil weather premium. Cattle bounce but will the strength hold? Gold reverses off new highs, crude oil fails. Randy Martinson, Martinson Ag, has more.
Wheat and Corn Try to Hold Gains on China Sales, But Soybeans Break: Cattle Bounce but Will it Hold?
Corn and wheat try to hold early gains on a 7.3 mb SRW wheat sale to China but hit resistance. Plus, soybeans remove Brazil weather premium. Cattle bounce but will it hold? Randy Martinson, Martinson Ag, has more.
December 05, 2023 11:40 AM
Related Stories
Sam Hudson of Corn Belt Marketing says funds sold the early bounce in grain markets with no bullish story.
After a down day on Tuesday the grain markets were higher early Wednesday a result of short covering according to Lane Akre, economist with Pro Farmer. However, he thinks the market has also taken out too much weather premium.
Dan Basse, president of Ag Resource Company, believes China bought a half million tons of U.S. soybeans last week.
Read Next
The Feikemas use cattle and hog waste to fuel 7,000 crop acres, eliminate insecticides and even guide land purchase decisions.
