Grains continue to see a technical bounce putting in weather premium but it could be volatile ahead. Cattle back into contract highs with higher cash bids being passed and higher boxed beef, while hogs are consolidating. Darren Frye, Water Street Solutions has details.
Grains See Technical Bounce Trading Weather: Cattle Break to New Highs With Rising Cash Bids
Grains see technical bounce putting in weather premium. Cattle back into contract highs with higher cash bids being passed, while hogs are consolidating. Darren Frye, Water Street Solutions has details.
June 01, 2023 11:41 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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