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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Alan Brugler with A&N Economics says the bottom line is with that weakness in real, you’re going to see a little more competition out of Brazil on soybean exports when you’re looking at them in dollar terms.
Joe Kooima of Kooima Kooima Varilek says the reaction was a bit muted considering the placements were well below estimates. However, he says some of it was already priced in.
Dan Basse, president of Ag Resource Company, says he thinks the soybean market put in a bottom earlier in the week.
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