Cattle try to add to gains after strong chart action Wednesday and higher $174 southern cash, but the market is awaiting more volume. Hogs see chart breakout with China news pushing the market. Corn and beans see profit taking with weak exports. Scott Varilek, Kooima Kooima Varilek, has more.
Cattle and Hogs Try to Extend Gains After Chart Break Out: Corn and Beans See Profit Taking
Cattle try to extend gains after strong chart action awaiting cash. Hogs see follow through buying on China news. Corn & beans see profit taking w/weak exports. Scott Varilek, Kooima Kooima Varilek, has more.
January 25, 2024 12:59 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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