Grains higher on technical buying, higher crude oil, export news, Argentina crop concerns, weather and risk premium. Profit taking in cattle with cash steady to lower and higher corn. Hogs higher but is the bottom in? Vince Boddicker of Farmers Trading Company has more.
Grains Higher on Technical Buying, CO, Risk and Weather Premium: Profit Taking and Steady to Lower Cash Hit Cattle
Grains higher on technical buying, higher CO, export news, Arg crop losses, weather & risk premium. Profit taking in cattle w/steady to lower cash. Hogs bounce. Vince Boddicker, Farmers Trading Company has more.
January 26, 2023 02:38 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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