Cattle see more risk of fund liquidation w/weaker cash. Hogs see short covering as they’re oversold and with strong exports. Corn is following a rally in wheat with strong exports and that is pulling soybeans higher. Scott Varilek, Kooima Kooima Varilek has details.
Wheat Rally Pulls up Row Crops: Cattle See Risk Off Fund Selling with Weak Cash, Hogs Bounce with Strong Exports
Cattle see risk off fund liquidation & weaker cash. Hogs see short covering w/strong exports. Corn follows a rally in wheat with strong exports, which pulls beans up. Scott Varilek, Kooima Kooima Varilek has more.
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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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