Grains mostly higher with report positioning and spillover from a friendly CPI number, which is supporting the outside markets with crude oil higher and the dollar lower. That is also helping the hogs and live cattle are making new highs again. Allison Thompson, The Money Farm, has details and what to expect and look for in today’s WASDE.
Grain and Livestock Futures Mostly Higher on Report Positioning and Support from Friendly CPI Data
Grains mostly higher with report positioning & spillover from friendly CPI data. That’s supporting hogs and live cattle are making new highs. Allison Thompson, The Money Farm, has details and a preview of the WASDE.
July 12, 2023 09:12 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.
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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