Grains end sharply higher on Friday and for the week on fund buying and weather concerns. If it stays dry how high will prices run and should farmers be selling? Cattle bounce but is a short term bottom in? Hogs mixed Friday but up strong for the week. Bryan Doherty, Total Farm Marketing has the wrap up.
Grains up Sharply for Week on Fund Buying, Weather: Cattle Recover, Hogs Have Up Week
Grains end sharply higher Friday, for week on fund buying & weather concerns. If it stays dry how high will prices run? Cattle bounce but is a bottom in? Hogs up for the week. Bryan Doherty, Total Farm Marketing.
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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.
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