Corn and soybeans higher on end of quarter and report positioning, wheat down with the higher dollar, poor demand. Cattle see more fund profit taking end of quarter but also with bearish macro markets and economic fears, including a government shutdown. Chip Nellinger, Blue Reef Agri-Marketing has more.
Markets Trade Mixed on End of Quarter, Report Positioning, Macro Economic Concerns
Corn & beans higher on end of quarter & report positioning, wheat down with the higher dollar, poor demand. Cattle see fund profit taking w/bearish macro markets. Chip Nellinger, Blue Reef Agri-Marketing has more.
September 27, 2023 11:33 AM
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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.
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