Grains see short covering heading in the WASDE, but just how important is this report and how different could the results be from July or expectations? Plus, what does the Fed do with Thursday’s CPI number and will cattle continue to hold together with impending seasonal weakness? Ted Seifried of Zaner Ag Hedge has the answers.
Grains Pop Pre-Report but Will USDA Lower Yield and Where do Prices Go if They Don’t?
Grains see short covering pre-WASDE, but just how important is this report and how different could results be from July? Plus, can cattle keep shaking off seasonal weakness? Ted Seifried of Zaner Ag Hedge has answers.
August 10, 2023 02:56 PM
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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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