Grains have a higher close led by wheat adding risk premium tied to war and weather. Dec corn closes above the 100 day MA, Nov soybeans above $14 and wheat with double digit gains. How high do prices project? Live cattle hit more contract highs with higher cash ideas. Milk futures were soft but have they bottomed? Bryan Doherty, Total Farm Marketing.
Grains Close Higher Adding Risk Premium on War and Weather: Contract Highs in Live Cattle, with Milk Prices Bottoming?
Grains higher adding risk premium tied to war and weather. How high do prices project? Live cattle hit more contract highs, milk futures were soft but have they bottomed? Bryan Doherty, Total Farm Marketing.
July 19, 2023 05:08 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.
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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