Grains slide into the end of the month and pre-holiday with technical selling and positioning but a chance of rain in the southern corn belt also weighed on the markets. Cattle traded 2-sided but recovered after steady cash broke at $179 in the south, while hogs saw fund liquidation with lower cash. Chip Nellinger, Blue Reef Agri-Marketing has more.
Grains Slide End of Month with Hint of Rain: Cattle Recover with Steady Southern Cash
Grains slide on end of month, pre-holiday squaring w/a hint of rain in the forecast. Cattle recovered w/steady southern cash at $179, while hogs followed lower cash. Chip Nellinger, Blue Reef Agri-Marketing has more.
August 31, 2023 02:56 PM
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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.
The grain markets were sharply lower Thursday morning with soybeans seeing 30-cent losses on disappointment the China summit has not produced any agricultural purchase agreements.
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