Soybeans plunge on weekend rains; wheat is mostly higher on Black Sea war news with corn 2-sided in the middle. Corn & bean export biz failing to support. Live cattle mixed, but feeders make new highs with lower corn. Kevin Duling, KD Investors has more.
Soybeans Plunge on Rains, Wheat Mostly Higher on Black Sea News, Corn Caught in Middle: Feeders Make Some New Highs
Soybeans plunge on rains; wheat mostly higher on Black Sea war news, corn 2-sided in the middle. Corn & bean export biz fails to support. Feeders make some new highs, Feds mixed. Kevin Duling, KD Investors has more.
August 07, 2023 09:26 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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