Grains continue to put in weather premium, with the drop in crop ratings and fund buying. How high will the market go to price in the lower yield? Cattle continue to consolidate with higher corn and lower csah, but how much more will prices drop? Hogs see profit taking after a $20 rally off the lows and with higher meal. Vince Boddicker, Farmers Trading Company has more.
Grains Put in Weather Premium on Drop in Crop Ratings, Fund Buying: Cattle and Hogs Consolidate with Higher Feed Costs
Grains put in weather premium, with the drop in crop ratings and fund buying. Cattle continue to consolidate with higher corn, lower cash. Hogs see profit taking. Vince Boddicker, Farmers Trading.
June 21, 2023 11:36 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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