Corn and soybeans higher with bull spreads working on tight cash supplies and China export biz. But what are the mixed signals we’re seeing with national cash basis? Wheat slumps on poor exports. Meanwhile crude oil has had a chart breakout, which is also pushing the dollar lower. And the red-hot cattle/beef market shows no signs of a top. Darin Newsom, Sr. Market Analyst with Barchart tackles it all!
Corn and Soybeans See Bull Spreading with China Biz and Strong Cash: Crude Oil Has a Chart Breakout, While Cattle are Red Hot!
Corn and Soybeans See Bull Spreading with China Biz and Tight Cash Markets. Crude Oil Has a Chart Breakout, While Cattle are Red Hot!
April 13, 2023 09:24 AM
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.
