Grains try to firm up after hitting chart retracement levels and drought expands but fight rains on the radar and forecast and reports. So have the markets taken out too much weather premium? Cattle start firmer then fade with higher corn and profit taking. Hogs also consolidate before the report. DuWayne Bosse with Bolt Marketing has more.
Grains Try to Bounce as Retracements Hit, Trade Weather, Drought, Reports: Cattle and Hogs Consolidate
Grain try to bounce after hitting retracement and as drought expands, pre-report. Cattle consolidate with higher corn, hogs also set back before the report. DuWayne Bosse, Bolt Marketing.
June 29, 2023 10:13 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.
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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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