Grains still higher with technical buying, putting in war premium. Wheat is leading though on production concerns pushing Jul KC wheat over $9. Livestock cattle are consolidating after the higher week, while funds are covering shorts in hogs with the firmer LHI. DuWayne Bosse of Bolt Marketing has details.
Grains See Fund Buying on Lower Wheat Production and Putting in War Premium: Livestock Higher Except Live Cattle
Grains up as funds put in war premium. Wheat leads on crop concerns with Jul KC over $9. Livestock cattle are consolidating after the higher week, while the higher LHI helps hogs. DuWayne Bosse of Bolt Marketing.
May 15, 2023 11:36 AM
Related Stories
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.
Read Next
Farmers in parts of the High Plains and Southeast need a break from relentless drought, while nationwide planting progress is outpacing the five-year average.
