Grains end lower with fund selling and profit taking on better rain chances and risk off. So are corn and beans topping? Wheat ends higher for the week so what’s brewing? What’s the next move for cattle? Hogs post a lower weekly close, so is that market topping? Mike Zuzulo, Global Commodity Analytics has the answers.
Are Tops in After Grains End Lower on Profit Taking, Better Rain Chances?: Livestock Mixed
Grains lower w/fund selling/profit taking on better rain chances, risk off. But yet wheat is up for the week. What’s the next move for cattle? Is the hog market topping? Mike Zuzulo, Global Commodity Analytics.
June 23, 2023 03:59 PM
Related Stories
Shawn Hackett with Hackett Financial Advisors says the market was removing China premium after the disappointing summit as the market wanted more details on ag purchases.
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.
Read Next
Farmers in parts of the High Plains and Southeast need a break from relentless drought, while nationwide planting progress is outpacing the five-year average.
