Soybeans setting back on profit taking, lower bean oil and disappointment about lack of China export biz confirmation. Corn and wheat still higher on weather and uncertainty about yield and the Black Sea Grain Deal. Cattle power back and could negate Wednesday’s poor technical day. While hogs consolidating before the next leg up? Ted Seifried, Zaner Ag Hedge has analysis.
Soybeans See Profit Taking, Corn & Wheat Firm on Yield and Black Sea Grain Deal Uncertainty: Cattle Recover, Hogs Consolidate
Soybeans see profit taking with lower bean oil, no China biz. Corn & wheat up weather & uncertainty about yield, Black Sea Grain Deal. Cattle see technical bounce, while hogs consolidate. Ted Seifried, Zaner Ag Hedge.
July 14, 2023 11:48 AM
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Shawn Hackett with Hackett Financial Advisors says the market was removing China premium after the disappointing summit as the market wanted more details on ag purchases.
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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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