Grains lower on fund selling and removing weather premium, but still sensitive to changing forecasts and Black Sea war news. Cattle higher as feedlots hold out for higher cash and softer corn supports feeders. Hogs still pushed by the rising cash index and August has a chart breakout. Scott Varilek of Kooima Kooima Varilek has the summary.
Grains See More Fund Selling, Removing Weather Premium: Cattle Supported as Feedlot Hold for Higher Cash, Hogs Follow Index
Grains lower on fund selling, removing weather premium. Cattle up on softer corn and as feedlots hold out for higher cash. Hogs still pushed by the rising cash index. Scott Varilek, Kooima Kooima Varilek summarizes.
July 28, 2023 11:31 AM
Related Stories
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.
Read Next
NASS says incorrect acreage weights for irrigated and nonirrigated fields affected September corn yield estimates for Kansas, Nebraska and the U.S. The agency’s October forecast remains unchanged.
Commodity Market Futures
Futures prices on grains, livestock, oil and more
Farm Journal TV
Trusted ag insights and real stories from rural America. Start your free trial today.
Pro Farmer
Join Pro Farmer today to access trusted market intelligence and expert analysis that help you make more confident decisions.
