Grains are trading weather, but how much weather premium do corn and soybeans need to put in? And is the wheat market taking too much premium out? Cattle trade higher on tight supplies and higher cash at $171 in the south. Steve Freed with ADM Investor Services has more.
Corn and Soybeans Add Weather Premium, Wheat Takes it Out: Cattle Up with Higher Cash and Tight Supplies
Grains trade weather, but how much premium do corn and soybeans need to put in? And is the wheat market taking too much premium out? Cattle trade higher on tight supplies and higher cash. Steve Freed ADMIS.
May 24, 2023 11:59 AM
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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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