Grains continue lower with plenty of bearish news including fast planting, China corn cancellations, WASDE positioning and risk off outside markets. Live cattle are mixed awaiting cash, while hogs are also mixed trying to recover. DuWayne Bosse, Bolt Marketing has details.
Grains Pressured by Fast Planting, WASDE, China Cancellation, Outside Markets: Cattle and Hogs Mixed on Consolidation
Grains lower on fast planting, China corn cancellations, WASDE positioning, risk off outside markets. Live cattle mixed awaiting cash, while hogs are consolidating. DuWayne Bosse, Bolt Marketing has details.
May 09, 2023 11:33 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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