Soybeans higher on hot dry weather and better new crop exports, corn tries to follow but fights lower wheat with more technical selling and weak demand. Cattle continue to see fund selling with steady to lower cash, hogs bounce. Mark Schultz, Northstar Commodity has more.
Soybeans Up on Weather and New Crop Exports, Corn Tries to Follow with Technical Selling in Wheat: Cattle Digest Steady/Lower Cash
Soybeans up on hot dry wx & new crop exports, corn follows but fights lower wheat with more technical selling. Cattle see fund selling with steady/lower cash, hogs bounce. Mark Schultz, Northstar Commodity has more.
August 17, 2023 11:57 AM
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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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