Wheat Higher on China Sales, Soybeans Remove Brazil Risk Premium: Cattle Make New Lows, Gold Retreats From New Highs

Wheat ends higher on fund short covering and China export biz. Soybeans remove Brazil weather premium, so corn ends flat. Cattle make new lows, gold reverses off new highs. Alan Brugler, Brugler Marketing, has more.

Wheat ends higher on fund short covering and China export biz. Soybeans drop removing Brazil weather premium. Corn caught in the middle and ends nearly flat. Cattle make new lows, so how much more downside risk is left? Gold market makes new highs then reverses. Alan Brugler, Brugler Marketing, has details.

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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.
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