Row crops end higher on weather and crop ratings, but geopolitical headlines and WASDE positioning were also factors. Live cattle make all-time highs again with futures at a discount to record cash, hogs have recovered off recent contract lows but how much upside is left? Brian Grete, Pro Farmer covers it all.
Grains End Higher Except Wheat Trading Weather & Crop Ratings, WASDE: Live Cattle Hit All-Time Highs Chasing Record Cash
Grains higher except wheat trading weather, crop ratings, WASDE. Live cattle hit all-time highs chasing record cash, hogs continue to recover but how much upside is left? Brian Grete, Pro Farmer.
June 06, 2023 10:09 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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