Grains lower on profit taking and removing weather premium with better extended forecasts, plus a lack of fresh war news. Soybeans are fading the 33.4 mb of export biz. Cattle mixed with lower feed prices and a rebound in equities, awaiting cash. Allison Thompson with The Money Farm has details.
Grains See Profit Taking on Extended Forecasts, Soybeans Fade Export Biz: Cattle Mixed with Lower Feed Prices, Await Cash
Grains see profit taking with better extended forecasts, plus a lack of fresh war news. Soybeans fade 33.4 mb of export biz. Livestock higher with lower feed prices. Allison Thompson with The Money Farm has details.
July 28, 2023 09:25 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.
Scott Varilek with Kooima Kooima Varilek says cattle futures are back trading higher with their huge discount to the record cash trade. He says cash trade could get even crazier.
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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