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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Grain markets crashed on Thursday with profit taking and fund liquidation tied to disappointment over the lack of agricultural purchase agreements during day one of the U.S. China summit.
The grain markets were sharply lower Thursday morning with soybeans seeing 30-cent losses on disappointment the China summit has not produced any agricultural purchase agreements.
Sam Hudson with Cornbelt Marketing says corn and soybeans were firmer on inflationary buying and optimism regarding the China summit. Cattle soared with higher cash.
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