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
Related Stories
Don Roose of U.S. Commodities says talk of China buying U.S. corn and soybeans helped spur the rally, but it was a combination of factors.
Sam Hudson of Corn Belt Marketing says funds sold the early bounce in grain markets with no bullish story.
After a down day on Tuesday the grain markets were higher early Wednesday a result of short covering according to Lane Akre, economist with Pro Farmer. However, he thinks the market has also taken out too much weather premium.
Read Next
The Feikemas use cattle and hog waste to fuel 7,000 crop acres, eliminate insecticides and even guide land purchase decisions.
