Grains end sharply lower despite the lowest crop ratings on corn and beans since 1988. Funds took profits with rain in the forecast, end of quarter and USDA reports coming up. Cattle had a nice bounce with the selloff in corn, but has the market finished its correction? And are hogs near a top after the big rally? Alan Brugler, Brugler Marketing has analysis.
Grains Sharply Lower on Rain Chances, Report & EOQ Profit Taking: Cattle Bounce with Lower Corn
Grains end sharply lower as funds took profits on possible rain, end of quarter and USDA reports. Cattle bounced but has the market finished its correction and are hogs near a top? Alan Brugler, Brugler Marketing.
June 27, 2023 02:40 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.
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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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