Corn and beans lose early strength on profit taking, weather and the stronger dollar. That is also weighing on cotton. Wheat is mixed awaiting fresh war news. Cattle trying to rebound with lower corn but await cash direction. Will cattle see a bigger correction soon? Shawn Hackett, Hackett Financial Advisors has details.
Row Crops and Cotton Fade on Profit Taking, Weather, Strong Dollar, Wheat Mixed Awaiting War News: Cattle Try to Bounce
Corn, beans, cotton lower on profit taking, weather, stronger dollar. Wheat is mixed awaiting fresh war news. Cattle trying to rebound with lower corn. Shawn Hackett, Hackett Financial Advisors has details.
July 27, 2023 11:32 AM
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Alan Brugler with A&N Economics says the bottom line is with that weakness in real, you’re going to see a little more competition out of Brazil on soybean exports when you’re looking at them in dollar terms.
Joe Kooima of Kooima Kooima Varilek says the reaction was a bit muted considering the placements were well below estimates. However, he says some of it was already priced in.
Dan Basse, president of Ag Resource Company, says he thinks the soybean market put in a bottom earlier in the week.
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