Markets lift on European buying and grain prices
European demand spurred a rally in futures and cash grain amid heavy selling in wheat and corn markets. Prices for wheat weakened later as buyers retrenched, while oats and hog provisions softened. noting strong overseas demand and rising primary center movement.
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Further Selling Depresses LST and Grain Markets
Markets faced renewed selling led by LST as banks remained steady and a late session recovery followed. Federal reserve reports showed rising reserve ratios, while grain futures swung with May and July contracts, export demand, and hedge actions shaping a broad, nervous trading day. Argentine and Australian grain movements and a Turkish purchase influenced the complex session.
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Hogs Receipts Mixed in Chicago Denver Omaha Markets
Across Chicago Denver Omaha, cattle and hog markets show slow to steady activity. Hog receipts around 68 000 in Chicago with mixed prices for weights and packing hogs steady to firm. cattle receipts lighter with steady to firm bulk bids. sheep receipts about 12 000 with fat lambs uneven but market holding. Additional notes from Omaha and St Paul mirror modest gains and steady packer demand.
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