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
Related Stories
DuWayne Bosse of Bolt Marketing says the trade action Friday was disappointing in corn and soybeans after key reversals on Thursday.
Scott Varilek with Kooima Kooima Varilek says cattle futures were seeing some profit taking early Friday as they are overbought. However, futures haven’t stayed down long with the strength in the cash market.
Don Roose of U.S. Commodities says talk of China buying U.S. corn and soybeans helped spur the rally, but it was a combination of factors.
Read Next
With summer patterns running four weeks behind schedule, meteorologist Don Day urges growers to plan in short windows for the second half of the growing season.
