AgDay TV Markets Now: Mike Zuzulo, Global Commodity Analytics, discusses why funds sold grains to end the week but bought cattle and hogs futures.
AgDay TV Markets Now: Mike Zuzulo Discusses Why Funds are Selling Grains and Buying Livestock
AgDay TV Markets Now: Mike Zuzulo, Global Commodity Analytics, discusses why funds sold grains to end the week but bought cattle and hogs futures.
January 26, 2024 08:26 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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