Grains close higher putting in weather premium on hot dry extended forecasts but also some war premium after Russia attacked the Odessa port. How high will prices go? Live cattle have an impressive day with higher corn and lower feeders. While hogs consolidate. Brad Kooima, Kooima Kooima Varilek has details.
Grains Higher Putting in Weather and War Premium: Live Cattle Eye Contract Highs with Strong Cash
Grains higher on hot dry extended forecasts but also war premium after Russia attacked the Odessa port. Live cattle eye contact highs. While hogs consolidate. Brad Kooima, Kooima Kooima Varilek.
July 18, 2023 03:07 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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