Cattle bounce as cash ideas turn higher and after futures closed well off the lows yesterday. Hogs see profit taking in all but the August contract which made new highs for the move. Soybeans bounce after lower crop ratings, corn flat. So have the grains removed too much weather premium? Brad Kooima, Kooima Kooima Varilek has more.
Cattle Recover as Cash Ideas Turn Higher, Hogs 2-sided: Soybeans Bounce after Lower Crop Ratings, Corn Flat
Cattle bounce as cash ideas turn higher, hogs see profit taking in all but the August contract. Soybeans bounce after lower crop ratings, corn flat. Brad Kooima, Kooima Kooima Varilek has more.
August 01, 2023 09:49 AM
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Shawn Hackett with Hackett Financial Advisors says the market was removing China premium after the disappointing summit as the market wanted more details on ag purchases.
Scott Varilek with Kooima Kooima Varilek says cattle futures are back trading higher with their huge discount to the record cash trade. He says cash trade could get even crazier.
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.
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