Grains lower still removing weather & war premium, ignoring the 4.85 mb new crop beans to China. Corn and soybeans are testing chart support. Live cattle lower with sloppy and limited cash, hogs consolidating. Kent Beadle, Paradigm Futures has more.
Grains Lower Removing More Weather and War Premium, Despite China Soybean Sales: Live Cattle Lower with Limited and Sloppy Cash
Grains lower still removing weather & war premium, ignoring the 4.85 mb new crop beans to China. Live cattle lower with sloppy and limited cash, hogs consolidating. Kent Beadle, Paradigm Futures has more.
July 31, 2023 09:25 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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