Cattle and hogs recover with a bounce in the stock market and lower corn. Are funds done liquidating? Soybeans make a new low for the move then bounce, but corn and wheat are lower. Harvest pressure, report positioning, rains in HRW areas are all factors. Brad Kooima, Kooima Kooima Varilek says details.
Livestock Recover with Higher Equities: Soybeans Make New Lows then Bounce, Corn and Wheat Lower
Cattle and hogs recover with a bounce in the stock market and lower corn. Soybeans bounce off new lows, but corn and wheat are lower. Brad Kooima, Kooima Kooima Varilek says details.
October 10, 2023 09:40 AM
Related Stories
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.
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.
Read Next
Farmers in parts of the High Plains and Southeast need a break from relentless drought, while nationwide planting progress is outpacing the five-year average.
