Corn and soybeans close lower trading extended weather, WASDE, exports, outside markets. Wheat supported by short covering and putting in some war premium. Cotton lower but still in its trading range, while cattle take out April highs after record cash last week. Shawn Hackett of Hackett Financial Advisors has details.
Corn, Beans, Cotton Lower on Weather, WASDE, Exports: Cattle Take Out April Highs on Record Cash
Corn, beans, cotton lower trading weather, WASDE, exports, outside markets. Wheat higher on short covering. While cattle hit new highs w/record cash. Shawn Hackett, Hackett Financial Advisors has more.
June 05, 2023 02:27 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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