Grains end higher on Friday and for the week. Is the market confirming a bottom? What could fundamentally change that trend? Cattle are lower for the week, but is there a bigger correction ahead? Hogs slide with increased sow liquidation. John Payne of Hedge Point Global Markets wraps up the week.
Grains Close Higher With Possible Bottom, While Livestock Post a Lower Week
Grains end higher Friday and for the week. Is the market confirming a bottom? A lower week for cattle on consolidation and hogs slide on sow liquidation. John Payne, Hedge Point Global Markets, shares insights.
May 05, 2023 02:26 PM
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Shawn Hackett with Hackett Financial Advisors says wheat has been leading the grains higher and how long the rally can be sustained is dependent on how long the Black Sea export slowdown lasts.
Scott Varilek of Kooima Kooima Varilek says everybody’s looking for the bottom in the cattle market and wants to know if it is close.
Garrett Toay with AgTraderTalk says after the big rally to start the week the grain markets saw some profit taking and corrective selling.
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