Row crop prices put in weather premium with the hot dry weather, while rains the Southern Plains weigh on the wheat and cotton. Cattle consolidate but are watching weather, cash and corn. Hogs try to bounce off contract lows but face headwinds including the lack of China demand. John Payne, Hedge Point Global Markets has more.
Grains and Cotton Trade Weather: Cattle Consolidate Watching Corn and Cash
Corn and beans trade hot dry weather, while rains the So. Plains weigh on the wheat and cotton. Cattle consolidate watching weather, cash and corn. Hogs try to bounce, John Payne, Hedge Point Global Markets.
May 24, 2023 09:13 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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