Grains strong with fund buying on dry weather, Drought Monitor. Corn got above the 100 day moving average, so how high will it push? Cattle correcting but will we continue to hold chart support? Chip Nellinger, Blue-Reef Agri-Marketing has more.
Grains Rally on Weather, Drought Monitor, Fund Buying but How High do Prices Go?: Cattle Lower But Holding Support
Grains strong with fund buying on dry weather, Drought Monitor. How high could prices go? Cattle correcting but will we continue to hold chart support? Chip Nellinger, Blue-Reef Agri-Marketing has the answers.
June 15, 2023 11:40 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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