Cattle continue to recover and try to fill chart gaps with a push from cash. Hogs back up after profit taking Wednesday. Soybeans leading gains with China talk and lower Brazil estimates. Corn and wheat are trying to follow. There’s not a lot of fresh news and exports were down from last week. Scott Varilek, Kooima Kooima Varilek, has more.
Cattle Still Recovering with Cash, S&P Supportive: Soybeans Rally on China Talk, Lower Brazil Estimates, Corn Tries to Follow
Cattle try to fill chart gaps with help from cash, S&P. Hogs back up. Soybeans lead gains with China talk, lower Brazil estimates. Corn & wheat are trying to follow. Scott Varilek, Kooima Kooima Varilek, has more.
November 02, 2023 09:25 AM
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Dave Chatterton with Strategic Farm Marketing says the markets needs a catalyst like South American weather or demand to find a bottom.
Scott Varilek with Kooima Kooima Varilek says the outside market news has been a factor in cattle but the main catalyst for the selling has been sharply lower cash trade which started breaking early in the week.
Bryan Doherty with Total Farm Marketing says speculative selling is a common theme in the commodity markets.
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