Grains see massive fund buying in a bull blown weather market and take out major resistance on the charts in the process. How high will price go? Cattle recover despite weaker cash and higher corn, while hogs reverse. Darin Newsom, Barchart.
Massive Fund Buying in Grains With Full-Blown Weather Rally but How High Will Prices Go? Cattle Bounce Despite Weaker Cash and Higher Corn
Grains see massive fund buying in a bull blown weather market. How high will price go? Cattle recover despite weaker cash and higher corn, while hogs reverse. Darin Newsom, Barchart.
June 16, 2023 12:20 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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