Grains mostly lower early on profit taking and a slight improvement in extended weather but we’re off lows. However, grain markets should be well supported with the escalation of the Black Sea war impacting grain supplies. Cattle rebound with higher cash, while hogs continue to see support from the rising cash index and higher cutouts. Chuck Shelby with Risk Management Commodities covers it all!
Grains Mostly Lower on Profit Taking, Weather: While Livestock Get Push From Higher Cash, Demand
Grains mostly lower with profit taking on better extended weather, but still supported by global supply concerns. Chuck Shelby, Risk Management Commodities says cattle and hogs supported by higher cash.
July 21, 2023 09:14 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.
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