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
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Dan Basse, president of Ag Resource Company, says he thinks the soybean market put in a bottom earlier in the week.
Scott Varilek with Kooima Kooima Varilek says the live cattle were overbought after rallying $21 off the lows.
Sam Hudson of Cornbelt Marketing says soybeans bounced as harvest pressure is subsiding and that should allow a bottom to be forged, especially with China buying.
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