Grain and livestock markets are mostly lower except soybeans. Fund selling continues in corn and wheat, with risk off including lower crude oil and bearish weather. Soybeans holding up better despite that. Cattle and hogs are seeing some consolidation with a higher dollar. Cattle should be well supported with the futures discount to the cash, while hogs are waiting for cash and cutouts to catch up. Mike Minor of Professional Ag Marketing has details.
Grain and Livestock Markets Mostly Lower with Risk Off Fund Selling, Weather: Livestock Futures Eye Cash and Product Values
Fund selling continues in corn and wheat, with risk off including lower crude oil and bearish weather. Cattle and hogs consolidate with a higher dollar. Mike Minor, Professional Ag Marketing has details.
May 01, 2023 11:32 AM
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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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