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Grains Higher Putting in War and Weather Premium: That Pressures Cattle and Hogs Despite Strong Cash
Grains sharply higher putting in war and weather premium. Corn, beans get above chart resistance. Cattle and hogs set back with higher corn and meal, despite strong cash. Vince Boddicker, Farmers Trading Company.
Traders are probably correct to anticipate a seasonal downturn, but we’re not convinced the likely summer peak will come as early as they expect.
AgDay TV Markets Now: Brad Kooima of Kooima Kooima Varilek says row crops put in weather premium, while live cattle put in a strong performance and again eye contract highs with higher cash trade ideas.
Brazil is poised to export a record 18.3 MMT of soybeans, soymeal, corn and wheat in July. . .
Grains higher on hot dry extended forecasts but also war premium after Russia attacked the Odessa port. Live cattle eye contact highs. While hogs consolidate. Brad Kooima, Kooima Kooima Varilek.
EPA has a deadline from the Eight Circuit Court of Appeals to offer a progress report on the Waters of the U.S. rule by Sept. 15.