Cattle open higher in reaction to USDA’s confirmation of the smallest herd since 1951 and no signs of rebuilding, Hogs break on the open with grains back lower as funds return as sellers. Scott Varilek, Kooima Kooima Varilek, has more.
Cattle Higher in Reaction to Confirmation of Smaller Herd, Hogs and Grains See Fund Selling Return
Cattle open higher in reaction to USDA’s confirmation of a small herd and no signs of rebuilding, Hogs see profit taking, grains back lower as funds return as sellers. Scott Varilek, Kooima Kooima Varilek, has more.
February 01, 2024 09:36 AM
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Wednesday morning USDA reported a flash sale of 13.2 million bushels of soybeans to unknown destinations and Randy Martinson with Martinson Ag says the market is betting that its China.
Soybeans were sharply lower in the overnight trade and then saw a gap higher open during the day session on talk that China was in pricing U.S. soybeans says Brian Grete with Commstock Investments.
Vince Boddicker of Farmers Trading Company says while no sales have been confirmed, just the rumors of China in the U.S. market looking for bids brought buyers back into the market.
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