Corn down for the 8th day on fund selling, lower wheat and poor exports. Soybeans bounce off support with meal, export biz, holding some weather premium. Cattle stage nice recovery on rising cash bids, hogs collapse. Scott Varilek, Kooima Kooima Varilek has details.
Corn Down 8th Day, While Soybeans Bounce on Exports But Watching Weather: Cattle Post Nice Recovery, Hogs See Topping Action
Corn down on fund selling, poor exports. Soybeans hold support with meal, keeping some weather premium. Cattle have nice recovery on rising cash bids, hogs collapse. Scott Varilek, Kooima Kooima Varilek has details.
August 03, 2023 02:29 PM
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Alan Brugler with A&N Economics says the bottom line is with that weakness in real, you’re going to see a little more competition out of Brazil on soybean exports when you’re looking at them in dollar terms.
Joe Kooima of Kooima Kooima Varilek says the reaction was a bit muted considering the placements were well below estimates. However, he says some of it was already priced in.
Dan Basse, president of Ag Resource Company, says he thinks the soybean market put in a bottom earlier in the week.
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