Grains see light selling with a slight improvement in weather, profit taking and hedge selling after getting above key resistance. Cattle consolidate awaiting cash, hogs gap higher with higher cash and anticipating evidence of liquidation in the hogs and pigs report. Randy Martinson, Martinson Ag has details.
Grains See Profit Taking, Hedge Selling, Slightly Better Rain Chances: Cattle Consolidate, Hogs Follow Cash Higher
Grains see light selling with a slight improvement in weather, profit taking and hedge selling after breaking resistance. Cattle consolidate, hogs gap higher pushed by cash. Randy Martinson, Martinson Ag has details.
June 20, 2023 11:37 AM
Related Stories
Scott Varilek with Kooima Kooima Varilek says the cattle futures rally out of the report was disappointing and did not last long indicating a possible exhaustion on the charts.
Shawn Hackett of Hackett Financial Advisors says with wheat falling nearly $2 off the Sept. 2 contract highs, it isn’t a surprise that China and other buyers would see it as an opportunity to buy.
Darin Newsom, senior market analyst with Barchart, says the funds set the direction of the trend the problem is they have skewed the markets to the point that the real fundamentals in agriculture don’t really matter.
Read Next
With the lame-duck session looming, lawmakers scramble to mend a divided Ag Committee over SNAP funding as insiders predict another extension.
Commodity Market Futures
Futures prices on grains, livestock, oil and more
Farm Journal TV
Trusted ag insights and real stories from rural America. Start your free trial today.
Pro Farmer
Join Pro Farmer today to access trusted market intelligence and expert analysis that help you make more confident decisions.
