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
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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.
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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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