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
Related Stories
Joe Kooima of Kooima Kooima Varilek says the gap lower opening in cattle futures Monday in response to the border reopening to Mexican imports was volatile. They anticipate more to come to price in the news, even after a $25 to $30 break in the futures recently.
Brian Grete with Commstock Investments says, “We’ve seen China come in and be a fairly active buyer over the past several weeks here of new crop U.S. soybeans. There was more talk of that on Friday. And so that gave us some price support.”
Scott Varilek with Kooima Kooima Varilek says the live cattle futures made new lows for the move Thursday before finding support and putting in key reversals.
Read Next
Farmers face potentially thousands in added costs as diesel inventories hit 40-year lows.
Commodity Market Futures
Futures prices on grains, livestock, oil and more
Farm Journal TV
Trusted ag insights and real stories from rural America. Start your free trial today.
Pro Farmer
Join Pro Farmer today to access trusted market intelligence and expert analysis that help you make more confident decisions.
