Corn and wheat see technical selling ahead of WASDE and with lack of war news. Soybeans start strong with China export biz but rains pull prices off highs. Cattle recover with product strength, hogs follow the lower cash index. Dave Chatterton, Strategic Farm Marketing has more.
Corn and Wheat See Pre-Report Selling, Rain Trims Soybean Gains from China Biz: Higher Product, Cash Ideas Push Cattle
Corn & wheat see pre-report fund selling. Soybeans trim gains from China export biz as rain falls. Cattle recover w/product strength, hogs follow a lower cash index. Dave Chatterton, Strategic Farm Marketing has more.
August 09, 2023 05:41 PM
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Shawn Hackett with Hackett Financial Advisors says the market was removing China premium after the disappointing summit as the market wanted more details on ag purchases.
Scott Varilek with Kooima Kooima Varilek says cattle futures are back trading higher with their huge discount to the record cash trade. He says cash trade could get even crazier.
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.
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