Soybeans and corn end higher on technical bounce and hot dry weather but how much recovery can we expect? Wheat sees weak technicals and demand. Cattle down for the 5th day as funds liquidate and with weaker cash, while hogs bounce due to the discount to the index. Don Roose with U.S. Commodities has details.
Soybeans and Corn Higher on Weather, Technical Bounce While Wheat Struggles: Cattle Down 5th Day with Weak Cash, Hogs Bounce
Row crops see technical bounce with hot dry weather. How much recovery can we expect? Wheat sees weak technicals and demand. Cattle down with weaker cash, while hogs bounce. Don Roose with U.S. Commodities has more.
August 17, 2023 02:33 PM
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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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