Cattle open lower with a negative reaction to the COF report. Was it really that bearish and will weather and higher cash trump it? Hogs react to USDA numbers with a slightly larger inventory. Grains open higher then turn mixed assessing weekend rains in Brazil and seeing end of year positioning. Brad Kooima, Kooima Kooima Varilek, has more.
Cattle and Hogs Initially React Negative to USDA Reports, Then Bounce Off Lows: Grains Turn Mixed
Cattle open lower but off lows. How bearish was the COF and will weather, higher cash trump it? Hogs down w/slightly larger herd. Grains open higher then turn mixed. Brad Kooima, Kooima Kooima Varilek, has more.
December 26, 2023 03:06 PM
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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.
Jamie Gieseke with Paradigm Futures says commodities are starting to gain favor with the funds on inflation fears and that includes grains. A China deal could just add fuel to the fire.
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