Grain and livestock futures are mostly lower on fund selling. The risk off in outside markets is spilling over due to a looming government shutdown. Plus, its end of month and quarter. Where is support on the cattle charts and will this weigh on cash trade this week? Brad Kooima of Kooima Kooima Varilek has details.
Grain and Livestock Futures Mostly Lower: Funds Sell with Risk Off Outside Markets, Possible Govt. Shutdown
Grain and livestock futures are mostly lower on fund selling. The risk off in outside markets is spilling over due to a looming government shutdown. Brad Kooima of Kooima Kooima Varilek has details.
September 26, 2023 09:44 AM
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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.
The grain markets were sharply lower Thursday morning with soybeans seeing 30-cent losses on disappointment the China summit has not produced any agricultural purchase agreements.
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