Grains off lows but still seeing fund selling pressure from the macroeconomic sell off in commodities, but also a wetter extended forecast. Livestock are mostly higher extending gains from yesterday and awaiting cash direction. Joe Vaclavik with Standard Grain has more.
Grains Mostly Lower on Fund Selling, Macro Economic Selloff, Weather: Livestock Mostly Higher Extending Gains
Grains off lows but still seeing fund selling with macroeconomic sell off in commodities, and a wetter extended forecast. Livestock mostly higher except nearby live cattle. Joe Vaclavik, Standard Grain.
May 31, 2023 11:24 AM
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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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