Grains higher on short profit taking, geopolitical concerns but still playing the weather card. Cattle supported by higher cash tone, milk futures higher but is $20 milk in the cards? Bryan Doherty, Total Farm Marketing has the outlook.
Grain, Livestock, Milk Markets Mostly Higher Midday: Corrective Buying, Geopolitical Concerns, Weather All Factors
Grains up on profit taking, geopolitical concerns but still following weather. Cattle supported by a higher cash tone, milk futures are up but is $20 milk in the cards? Bryan Doherty, Total Farm Marketing has
August 04, 2023 11:34 AM
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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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