Commodity wide fund selloff but grains pressured by China corn cancellation, Black Sea Grain deal, big crop. Livestock were mostly lower except nearby live cattle which were held up by steady cash ideas. Vince Boddicker with Farmers Trading Company has more.
Commodity Wide Fund Selling Hits Grains, Plus China Cancellation, Black Sea Grain Deal, Big Crop
Commodity wide fund selloff but grains pressured by China corn cancellation, Black Sea Grain deal, big crop. Livestock mostly lower except nearby LC, on steady cash ideas. Vince Boddicker, Farmers Trading Company.
May 17, 2023 02:31 PM
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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.
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