Corn and beans see a dead cat bounce Friday but are both lower for the week and so is wheat as fund sold and took out weather and war premium. Cattle see a strong close Friday and for the week with some limited but higher northern cash. Hogs have a lower weekly close, so is that confirming a top? Mark Schultz, Northstar Commodity has more.
Dead Cat Bounce Friday in Row Crops But All the Grains Lower for the Week: Cattle Higher Following Cash
Row crops bounce Friday but all the grains are lower for the week and so are hogs. Cattle close strong Friday and for the week on the heels of better Northern Cash. Mark Schultz, Northstar Commodity explains.
August 04, 2023 02:37 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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