Gap lower open on cattle on disappointing cash trade at steady in the South late Friday. Hogs consolidate with cattle and with big supplies. Soybeans rally on SA weather and confirmed China biz, corn tries to follow with a Mexican export sale. Brad Kooima, Kooima Kooima Varilek, has more.
Gap Lower Open in Cattle with Cash Disappointment, Hogs 2-Sided: Soybeans Rally with China Biz, SA Weather and Corn Tries to Follow
Gap lower open in cattle on disappointing steady So. cash trade Friday. Hogs consolidate w/cattle. Soybeans rally on SA weather & China biz, corn tries to follow w/MX biz. Brad Kooima, Kooima Kooima Varilek, has more.
November 06, 2023 09:16 AM
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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.
The grain markets were sharply lower Thursday morning with soybeans seeing 30-cent losses on disappointment the China summit has not produced any agricultural purchase agreements.
Sam Hudson with Cornbelt Marketing says corn and soybeans were firmer on inflationary buying and optimism regarding the China summit. Cattle soared with higher cash.
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