Lots of red on the board this morning with risk off going into the FOMC meeting and after Frist Republic Bank failed. More spec selling in grains, but weather is also bearish. Cattle and hogs seeing profit taking after higher weekly closes but cash will be key. Kent Beadle of Paradigm Futures has more.
Grain and Livestock Markets Seeing Lots of Red, with Risk Off, Weather, More Spec Selling
Lower with risk off going into the FOMC meeting. More spec selling in grains, but weather is also bearish. Cattle and hogs seeing profit taking after higher week but cash is key. Kent Beadle, Paradigm Futures.
May 01, 2023 09:24 AM
Related Stories
DuWayne Bosse of Bolt Marketing says the trade action Friday was disappointing in corn and soybeans after key reversals on Thursday.
Scott Varilek with Kooima Kooima Varilek says cattle futures were seeing some profit taking early Friday as they are overbought. However, futures haven’t stayed down long with the strength in the cash market.
Don Roose of U.S. Commodities says talk of China buying U.S. corn and soybeans helped spur the rally, but it was a combination of factors.
Read Next
With summer patterns running four weeks behind schedule, meteorologist Don Day urges growers to plan in short windows for the second half of the growing season.
