Corn and beans lose early strength on a little shift in the weather forecast and end of month profit taking. Cattle are also seeing some consolidation end of month, awaiting cash direction. Short covering has pulled hogs back higher despite lower cash and cutouts but with weights dropping there is longer term optimism. Jeff Hoogendoorn, Professional Ag Marketing, has more.
Row Crops Reverse Early Stength on Profit Taking, Forecast Change: Cattle Consolidate Ahead of Cash, Short Covering in Hogs
Row crop back lower on a shift in weather and profit taking. Cattle also see consolidation awaiting cash. Short covering pulls hogs higher despite lower cash. Jeff Hoogendoorn, Professional Ag Marketing, has more.
August 30, 2023 11:52 AM
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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.
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