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.
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.
December 05, 2023 07:37 AM
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Wheat futures were up 30 to 35 cents early Wednesday adding risk premium as Russia and Ukraine attacks have escalated says Jamie Gieseke with Paradigm Futures.
Rich Nelson, chief strategist for Allendale says row crops are pausing right now until the weather story is really decided, while wheat is concerned about rising tensions in the Black Sea region.
Kevin Duling with KD Investors says corn and soybeans eased with a 1% improvement in ratings, while the weather is moderating.
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