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
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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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