Grains mostly higher on corrective buying after corn and wheat made new contract lows this week. Wheat also rallied on talk of China export sales and a Russian wheat ban and corn may see liquation slowing ahead of first notice day. Soybeans keep an eye on Brazil weather. Cattle and hogs continued to recover but are they confirming lows? Rich Nelson of Allendale has details.
Wheat Leads Grains Mostly Higher on Corrective Buying and Export News: Cattle and Hogs Extend Gains and Confirm Lows?
Grains mostly higher on corrective buying and wheat export news. Soybeans keep an eye on Brazil weather. Cattle and hogs continued to recover but are they confirming lows? Rich Nelson of Allendale has details.
November 29, 2023 07:54 PM
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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.
Dave Chatterton with Strategic Farm Marketing says the market initially traded the heat for this week which is unwelcome for corn during pollination time.
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