Cattle open lower after a neutral COF, seeing profit taking and the lack of cash weighing on futures. Hogs continue to correct with supplies backing up. Did corn and soybeans put in lows last week after holding long term support? Brad Kooima, Kooima Kooima Varilek, has more.
Cattle Lower After Neutral COF: Hogs Correct but Corn and Soybeans May Have Made Lows?
Cattle lower despite neutral COF, on profit taking and the lack of cash. Hogs continue to correct with supplies backing up. Did corn and soybeans put in lows last week? Brad Kooima, Kooima Kooima Varilek, has more.
January 22, 2024 09:34 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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