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.
October 05, 2023 11:43 AM
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Scott Varilek with Kooima Kooima Varilek says cattle futures are back trading higher with their huge discount to the record cash trade. He says cash trade could get even crazier.
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.
The grain markets were sharply lower Thursday morning with soybeans seeing 30-cent losses on disappointment the China summit has not produced any agricultural purchase agreements.
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