Grains higher on short profit taking, geopolitical concerns but still playing the weather card. Cattle supported by higher cash tone, milk futures higher but is $20 milk in the cards? Bryan Doherty, Total Farm Marketing has the outlook.
Grain, Livestock, Milk Markets Mostly Higher Midday: Corrective Buying, Geopolitical Concerns, Weather All Factors
Grains up on profit taking, geopolitical concerns but still following weather. Cattle supported by a higher cash tone, milk futures are up but is $20 milk in the cards? Bryan Doherty, Total Farm Marketing has
August 04, 2023 11:34 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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