Cattle 2-sided after strong chart action Thursday....positioning ahead of cash and the COF. Hogs continue to correct. Grains extending gains after reversals and with better export news, including a China soybean export sale. Scott Varilek, Kooima Kooima Varilek, has more.
Cattle 2-Sided Awaiting Cash & COF: Grains Build on Reversals and Export News
Cattle 2-sided after chart breakout, awaiting cash and the COF. Hogs continue to correct. Grains extending gains after reversals and with better export news. Scott Varilek, Kooima Kooima Varilek, has more.
January 19, 2024 09:25 AM
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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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