Grains mostly lower with a risk off day due to outside markets on hawkish Fed comments, weather and resumption of Ukraine exports. Plus profit taking hit in old crop corn, beans and even some wheat contracts after hitting chart resistance. Cattle also saw consolidation with the risk off and awaiting cash and the COF, hogs bounce off contract lows but when does the market bottom? Don Roose of U.S. Commodities has details.
Grains and Cattle End Mostly Lower in a Risk Off Day Driven by Outside Markets, Profit Taking, Weather, Ukraine Export Resumption
Grains and cattle mostly lower with a risk off day due to outside markets on hawkish Fed comments, weather, resumption of Ukraine exports. Hogs bounce off contract lows. Don Roose of U.S. Commodities has details.
April 19, 2023 02:06 PM
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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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