Cattle gain strength with improving cash of $185 in the south, $186 in the North, and shaking off the lower stock market. Hogs see more short covering. Corn and soybeans rally on corrective buying, talk of China soybean business and higher meal. Wheat sees profit taking with Ukraine moving grain through the corridor. Scott Varilek, Kooima Kooima Varilek, joins us.
Cattle Rally with Improving Cash, Short Covering in Hogs: Corrective Buying in Row Crop on Talk of China Sales
Cattle strong on higher cash, shake off lower equities. Hogs see more short covering. Corn & soybeans see corrective buying w/talk of China soybean biz, higher meal. Scott Varilek, Kooima Kooima Varilek, joins us.
October 27, 2023 01:00 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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