Corn and soybeans mixed with strong cash prices supporting old crop while new crop is under pressure with better weather. Short covering and dry weather support wheat. Cattle making more highs with futures still at a discount to cash, while hogs struggle as cash can’t find a bottom. Mark Schultz of Northstar Commodity has details.
Grains Mostly Higher Except New Crop Corn and Beans: Cattle Continue to Chase Cash with Hogs Looking for a Bottom
Grains higher except new crop corn and beans with better weather. Cattle making more highs with futures still at a discount to cash, while hogs look for a bottom. Mark Schultz of Northstar Commodity has details.
April 12, 2023 11:41 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.
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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