Grains bounce off their lows after holding support and with positioning ahead of the WASDE. Is most of the bearishness already factored into prices? Live cattle chop awaiting cash direction, while hogs see follow through after the reversal. Randy Martinson, Martinson Ag has more.
Grains Mostly Higher Bouncing Off Lows Ahead of WASDE: Live Cattle Mixed Awaiting Cash, Hogs Higher After Reversal
Grains bounce off their lows after holding support and with positioning ahead of the WASDE. Live cattle mixed awaiting cash direction, while hogs see follow through after the reversal. Randy Martinson, Martinson Ag.
May 10, 2023 11:37 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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