Cattle try to recover after new lows yesterday. Is a bottom close? Meanwhile hogs fall back on cattle/hog spreads. Corn and soybeans follow wheat higher with another 7.3 mb sale of SRW to China. Brad Kooima, Kooima Kooima Varilek, has more.
Cattle Trying to Bottom, While Hogs Fall on Spreads: More China SRW Wheat Biz Pulls Grain Complex Up
Cattle try to recover after new lows yesterday. Is a bottom close? Meanwhile hogs fall on cattle/hog spreads. Row crops follow wheat higher on more SRW sales to China. Brad Kooima, Kooima Kooima Varilek, has more.
December 05, 2023 10:09 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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