Grains higher with disappointing weekend rains and corrective buying, but soybeans are also supported by strong product values which is spilling over into wheat. Cattle set back on profit taking and lower boxed beef. While the dollar was down last week despite talk of additional interest rate hikes, so what clues is it providing about the economy? Darin Newsom, Barchart has more.
Grains Higher on Disappointing Weekend Rains, Corrective Buying, Strong Soy Products: Cattle See Profit Taking, Dollar Has Lower Week
Grains higher on disappointing rains corrective buying, strong soy products, which spilled over into wheat. Cattle see profit taking w/lower boxed beef. While the dollar was down last week. Darin Newsom, Barchart.
July 10, 2023 09:27 AM
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Shawn Hackett with Hackett Financial Advisors says the market was removing China premium after the disappointing summit as the market wanted more details on ag purchases.
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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.
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