After a choppy session, grains end higher on weather forecast, Drought Monitor, WASDE positioning, the rally in soybean oil and technical buying in wheat. Cattle ended lower but did we confirm the key reversals and a top? Hogs continue to consolidate after the recent recovery with the lack of new buying and a bullish story. Dave Chatterton of Strategic Farm Marketing has analysis.
Grains End Higher on Weather Forecast, Drought Monitor, WASDE Positioning: Cattle End Lower But Rally May Not be Over
Grains end higher on weather forecast, Drought Monitor, WASDE positioning. Cattle markets lower but did we confirm a top? Hogs consolidate after the recent recovery. Dave Chatterton, Strategic Farm Marketing.
June 08, 2023 02:25 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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