Grains mixed with soybeans bouncing off chart support with the help of strong new crop weekly exports and a 4.9 mb new crop sale to China. Corn and wheat continue to see technical selling and disappointing exports. Cattle started lower but quickly found support. Stock indexes and crude oil took a break yesterday, but what is the long-term outlook? Darin Newsom, Barchart has details.
Corn, Wheat Lower, Soybeans Recover Trading Weather, Export News: Cattle Start Lower and Quickly Recover
Equities and oil took a break yesterday but what is the long-term outlook. Grains mixed trading weather and export news. Cattle trying to recover after a pullback, awaiting cash. Darin Newsome Barchart, has more.
August 03, 2023 09:16 AM
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Scott Varilek with Kooima Kooima Varilek says the live cattle futures made new lows for the move Thursday before finding support and putting in key reversals.
Garrett Toay with AgTraderTalk says after the big rally to start the week the grain markets saw some profit taking and corrective selling.
DuWayne Bosse of Bolt Marketing says the wheat market was trying to extend gains early Thursday but may be getting close to pricing the Black Sea export disruptions in.
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