Fund selling continues as corn and beans have broken major support. Wheat is trying to bottom. Cattle back into contract highs with lower corn, higher cash ideas. Tomm Pfitzenmaier of Summit Commodity Brokerage has details.
Fund Selling Continues in Corn and Beans with Wheat Trying to Bottom: Cattle Back Making Some New Highs
Fund selling continues as corn & beans have broken major support. Wheat is trying to bottom. Cattle back into contract highs with lower corn, higher cash ideas. Tomm Pfitzenmaier, Summit Commodity Brokerage.
February 28, 2023 11:42 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.
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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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