Grains end higher after the WASDE and only slight domestic adjustments to the balance sheets. USDA was more aggressive on Argentina cuts but left Brazil unchanged and most of it was already worked into prices. Wheat saw short covering and traded some geopolitical concerns. Hogs bounced with higher cash and cutouts, while cattle consolidated under this week’s highs awaiting cash. John Heinberg of Total Farm Marketing has more.
Grains Higher After WASDE, Wheat Leads on Short Covering: Live Cattle Consolidate Under Contract Highs
Grains up after minor U.S. changes in WASDE. Argentina cuts were bigger, but already priced in. Wheat saw short covering. Hogs bounced, while cattle consolidated.. John Heinberg of Total Farm Marketing.
February 08, 2023 04:09 PM
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