Grains end mostly lower except the hard red wheat classes, consolidating on weather, WASDE positioning and money flow. Cattle bounce with help from futures discount to cash, while hogs wait for cash to catch up. Brian Grete, Pro Farmer has details.
Grains Lower Except Hard Wheats Consolidating on Weather, Report Positioning, Money Flow: Cattle Higher Helped by Futures Discount to Cash
Grains end mostly lower except hard red wheats on weather, WASDE positioning and money flow. Cattle bounce with help from futures discount to cash, while hogs wait for cash to catch up. Brian Grete, Pro Farmer.
May 08, 2023 02:23 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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