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Grains see some end of week short covering but Tomm Pfitzenmaier of Summit Commodity Brokerage says the 7-day forecast also looks a little hotter and drier which is helping out. China bought another 7.4 million bushels of new crop soybeans Friday which is supportive. Plus, he thinks the melt down in the stock market may be bringing some money into the grains but is it enough to get the funds to blow out of their short positions? Not likely he says and Friday's bounce in the grains may not be sustainable. Cattle are lower with lower cash and cutouts and the lower stock markets and hogs are following.
See omnystudio.com/listener for privacy information.
By Michelle RookGrains see some end of week short covering but Tomm Pfitzenmaier of Summit Commodity Brokerage says the 7-day forecast also looks a little hotter and drier which is helping out. China bought another 7.4 million bushels of new crop soybeans Friday which is supportive. Plus, he thinks the melt down in the stock market may be bringing some money into the grains but is it enough to get the funds to blow out of their short positions? Not likely he says and Friday's bounce in the grains may not be sustainable. Cattle are lower with lower cash and cutouts and the lower stock markets and hogs are following.
See omnystudio.com/listener for privacy information.

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