Grains up on renewed geopolitical concerns as Ukraine damages a Russian export port, corrective buying after a lower week and oversold conditions, but still eyeing weather. Cattle are higher with steady to higher cash in the North. Hogs rolling over. Chip Nellinger, Blue Reef Agri-Marketing has more.
Grains Rally on Renewed Geopolitical Concerns, Corrective Buying After a Down Week: Cattle Higher with Better Northern Cash, Hogs Roll Over
Grains up on renewed geopolitical concerns, corrective buying, still eyeing weather. Cattle are higher with steady to higher cash in the North. Hogs rolling over. Chip Nellinger, Blue Reef Agri-Marketing has more
August 04, 2023 09:21 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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