Cattle see fund selling resume but is the low really in and did the LRP program contribute to the selloff? Hogs consolidating, while corn and wheat are up with liquidation easing on first notice day and with strong weekly exports. Soybeans drift eyeing extended rain chances in Brazil. Scott Varilek, Kooima Kooima Varilek, has more.
Cattle Retreat, So is the Low Really In? Corn Up as Liquidation Eases on First Notice Day
Cattle see fund selling resume but is the low in? Hogs consolidating, while corn up with liquidation easing on first notice day & with strong weekly exports. Scott Varilek, Kooima Kooima Varilek, has more.
November 30, 2023 09:27 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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