Grains ended mixed and off lows after the early fund selloff due to macroeconomic concerns and weather. Is the selling over? Cattle make more new contract highs, while hogs extend gains on end of month short covering. Oliver Sloup, Blue Line Futures wraps up the day.
Grains End Mixed and Off Session Lows but is the Fund Selling Done? Cattle Make Contract Highs Again
Grains end mixed and off lows after the early fund selloff on macroeconomic concerns, weather. Is the selling over? Cattle make more contract highs, while hogs see short covering. Oliver Sloup, Blue Line Futures.
May 31, 2023 02:14 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.
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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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