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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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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