Live cattle mixed to higher with end of month positioning and awaiting cash direction, but charts look bearish. Hogs mixed but is the correction over? Corn and beans slightly higher with light short covering, higher meal and crude oil, plus a soybean sale to Mexico. Wheat sees more technical selling with winter wheat ratings well above last year. Brad Kooima, Kooima Kooima Varilek, has more.
Cattle Mixed to Higher Amid Bearish Charts, Awaiting Cash. Are Hogs Done Correcting? Row Crops See Corrective Buying with Mexico Biz
Live cattle mixed to higher EOM, awaiting cash, but charts look bearish. Hogs mixed but is the correction over? Row crops firmer on short covering, higher crude oil. Brad Kooima, Kooima Kooima Varilek, has more.
October 31, 2023 09:29 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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