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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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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