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.
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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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