Grains start higher then turn mixed watching weather, outside markets like crude oil and squaring ahead of the WASDE. However, what are cash basis levels doing on grain? Cattle break to new highs again still chasing cash and maybe a hedging opportunity. Nick Tsiolis, Farmer’s Keeper has more.
Grains Turn Mixed Trading Weather, Outside Markets, WASDE Positioning: What are Cash Basis Levels Doing?
Grains start higher then turn mixed watching weather, the $, crude oil and squaring ahead of the WASDE. However, what are cash basis levels doing on grain? Cattle make new highs. Nick Tsiolis, Farmer’s Keeper.
June 05, 2023 09:20 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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