Grains see profit taking with a slight change in the weather and a quieter Black Sea news day, but markets may have enough risk premium for now. Cattle continue to correct technically despite bullish fundamentals. Hogs pushed by cash and product but will August take out resistance on the charts? Jeff Hoogendoorn, Professional Ag Marketing covers it all.
Grains See Profit Taking Awaiting War and Weather Changes: Cattle Consolidate Despite Bullish Fundamentals, Hogs Pushed by Cash, Cutout
Grains see profit taking & may have enough risk premium for now. Cattle continue to correct technically despite bullish fundamentals. Hogs pushed by cash, product. Jeff Hoogendoorn, Professional Ag Marketing has more.
July 25, 2023 11:37 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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