Grains have had an ugly week. Soybeans are seeing some corrective buying after holding support and with higher meal. Wheat is trying to consolidate but more pressure in corn with demand concerns and after taking out chart areas. Cattle trade 2-sided with a lack of cash news and watching economic reports. Allison Thompson with The Money Farm has analysis.
Grains Mixed Trying to Consolidate After an Ugly Week: Cattle 2-Sided with Lack of Cash Direction
Grains have had an ugly week. Soybeans are seeing some corrective buying, wheat is trying to consolidate but more fund selling in corn. Cattle trade 2-sided on a lack of cash news. Allison Thompson, The Money Farm.
April 28, 2023 09:07 AM
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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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