Grains continue in the red with more fund selling and another China corn cancellation. July corn taking out $6, new lows in wheat. Cattle futures two sided still consolidating with limited cash news. Can hogs build on Wednesday’s strong close? Scott Varilek with Kooima Kooima Varilek has details.
Grains in the Red Again with Technical Selling, China Cancels Corn: Cattle Consolidate with Limited Cash News
Grains see more fund selling, on weather, China corn cancellation. Cattle futures consolidated with limited cash news. Can hogs build on Wed. strong close? More with Scott Varilek, Kooima Kooima Varilek.
April 27, 2023 09:25 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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