Soybeans roared back into the close with the help of products, while corn and wheat were mostly lower on fund selling, weather, removing war premium and the higher dollar. Cattle had a strong close bouncing off support and with help from higher product values and cash ideas, hogs reversed lower on profit taking. DuWayne Bosse, Bolt Marketing has more.
Soybeans Recover, Corn and Wheat Pressed by Weather, Dollar, Fund Selling: Cattle Bounce Off Support with Higher Product
Soybeans recovered with the products, corn and wheat were lower on weather and the higher dollar. Cattle closed strong with help from higher product, hogs reversed lower. DuWayne Bosse, Bolt Marketing has more.
August 01, 2023 02:37 PM
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Brian Grete with Commstock Investments says, “We’ve seen China come in and be a fairly active buyer over the past several weeks here of new crop U.S. soybeans. There was more talk of that on Friday. And so that gave us some price support.”
Scott Varilek with Kooima Kooima Varilek says the live cattle futures made new lows for the move Thursday before finding support and putting in key reversals.
Garrett Toay with AgTraderTalk says after the big rally to start the week the grain markets saw some profit taking and corrective selling.
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