Ag markets rebound and see corrective buying after the commodity wide selloff Wednesday. Cattle still trying to bottom and await larger cash trends which so far have been soft but the DOW hits record highs which should be positive for consumer demand. Grains get help from decent weekly exports and a big soybean sale to unknown and the lower dollar. Scott Varilek, Kooima Kooima Varilek, has more.
Ag Markets See Corrective Buying After Wednesday Selloff: Exports, Lower Dollar Supportive
Ag markets rebound, see corrective buying after the commodity wide selloff Wed. Cattle still trying to bottom and await larger cash trends which so far have been soft. Scott Varilek, Kooima Kooima Varilek, has more.
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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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