Cattle fade a lower open and bearish COF report to end higher with strong cash and weather both supportive. Hogs reacted to a bearish USDA report with big upfront supplies. Grains all higher on EOY trade, Brazil weather and demand news and/or China talk. Scott Varilek, Kooima Kooima Varilek, has more.
Cattle Shake Off Bearish COF, Grains See EOY, Wx and Demand Pop: While Hogs Digest USDA Data
Cattle faded a bearish COF report twith strong cash and weather both supportive. Hogs reacted to a bearish USDA report. Grains up on EOY positioning, SA wx and demand. Scott Varilek, Kooima Kooima Varilek, has more.
December 26, 2023 02:39 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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