Grain and cattle markets mostly lower with risk off selling tied to the jobs data which sent the dollar higher. Grains could post higher weekly closes and corn and wheat are finding some good end user demand as prices are competitive. Meanwhile, soybean and cattle charts look tough. Kevin Duling, KD Investors, explains.
Grains and Cattle Lower as Jobs Data Hits Outside Markets: Corn and Wheat Prices Competitive, Stimulate Demand
Grain and cattle lower with risk off selling tied to the jobs data. Corn and wheat are seeing supportive end user demand. Meanwhile soybean and cattle charts look tough. Kevin Duling, KD Investors, explains.
October 06, 2023 09:29 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.
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