Fund selling in grains with bearish export news including the China corn cancellation, poor inspections, Black Sea and Brazilian competition. Cattle were lower in all but nearby live cattle, with the bearish COF and softer cash. Hogs saw short profit taking and spread unwinding with cattle. Mike Zuzulo of Global Commodity Analytics has details.
Funds Sell in Grains with Bearish Demand News Including China’s Cancellation, Brazil Competition: Cattle Mostly Lower on COF, Cash
Fund selling in grains with bearish export news including the China cancellation, poor inspections, Black Sea and Brazilian competition. Cattle down on COF, softer cash, hogs up. Mike Zuzulo, Global Commodity Analytics.
April 24, 2023 02:58 PM
Related Stories
Garrett Toay with AgTraderTalk says after the big rally to start the week the grain markets saw some profit taking and corrective selling.
DuWayne Bosse of Bolt Marketing says the wheat market was trying to extend gains early Thursday but may be getting close to pricing the Black Sea export disruptions in.
Oliver Sloup Blue Line Futures, says wheat prices skyrocketed adding risk premium on concerns about the escalating Black Sea war and the disruptions it is causing in the export market. It could have more upside left.
Read Next
New state restrictions and a proposed AFIDA overhaul could reshape land deals, reporting, and due diligence for farmers.
Commodity Market Futures
Futures prices on grains, livestock, oil and more
Farm Journal TV
Trusted ag insights and real stories from rural America. Start your free trial today.
Pro Farmer
Join Pro Farmer today to access trusted market intelligence and expert analysis that help you make more confident decisions.
