Wheat higher on technical buying and short covering with a weaker dollar but the global balance sheet is extremely tight so when will the market finally give that some respect? Soybeans see profit taking with the disappointing NOPA crush and corn follows it lower. Cattle make all-time highs with strong cash at $183 in the south up $, north at $184-$185 and $292, steady to $2 higher. Kevin Duling, KD Investors, has more.
Wheat Sees Technical Buying, Soybean Correct on NOPA Crush and Corn Follows: All-Time Highs in Cattle With Higher Cash
Wheat higher on short covering with a weaker dollar. Soybeans see profit taking on NOPA crush and corn follows it lower. Cattle make all-time highs with higher cash. Kevin Duling, KD Investors, has more.
September 15, 2023 11:51 AM
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Wednesday morning USDA reported a flash sale of 13.2 million bushels of soybeans to unknown destinations and Randy Martinson with Martinson Ag says the market is betting that its China.
Soybeans were sharply lower in the overnight trade and then saw a gap higher open during the day session on talk that China was in pricing U.S. soybeans says Brian Grete with Commstock Investments.
Vince Boddicker of Farmers Trading Company says while no sales have been confirmed, just the rumors of China in the U.S. market looking for bids brought buyers back into the market.
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