Grains still mostly higher still pricing in the USDA numbers but wheat is also putting in some weather premium. Old crop corn is seeing pressure on farmer selling and slow export inspections. Live cattle made new contract highs then saw profit taking and hedge pressure, while hogs are seeing some short covering. Kent Beadle of Paradigm Futures has details.
Grains Mostly Higher Pricing in USDA Reports, Weather, Higher Crude Oil: Cattle Seeing Profit Taking and Hedge Pressure
Grains mostly higher pricing in USDA numbers and weather. Old crop corn sees farmer selling, while live cattle made new contract highs then saw profit taking and hedge pressure. Kent Beadle of Paradigm Futures.
April 03, 2023 11:32 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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