Cattle still trying to recover from the COF bearishness but will the funds keep liquidating and what does this mean for cash? Hogs bounce off more contract lows. Grains see pressure with technical selling on macroeconomic fears. Brad Kooima, Kooima Kooima Varilek, has more.
Cattle Recover Digesting Bearish COF, Hogs Bounce off Contract Lows: Grains See Technical Selling on Macroeconomic Fears
Cattle try to hold early gains after the COF bearishness. Hogs bounce off more contract lows. Grains see pressure with technical selling with macroeconomic fears. Brad Kooima, Kooima Kooima Varilek, has more.
October 25, 2023 09:25 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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