Grains close mostly higher with technical buying and putting in weather premium on the forecast and Drought Monitor. Cattle make new highs on sharply higher cash with consolidation in hogs. Chip Nellinger, Blue Reef Agri-Marketing has details.
Grains See Technical Recovery, Put in Weather Premium: Cattle Hit Contract Highs Chasing Sharply Higher Cash
Grains close mostly higher with technical buying and putting in weather premium. Cattle make new highs on sharply higher cash with consolidation in hogs. Chip Nellinger, Blue Reef Agri-Marketing has details.
June 01, 2023 02:43 PM
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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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