The risk off outside market tone has most of the grain and livestock futures lower early. Grains also seeing follow through selling this morning after poor closes yesterday and removing weather premium with better conditions in Argentina and the U.S. Southern Plains. Livestock are also lower with softer cash and cutouts. Allison Thompson of The Money Farm has more.
Risk Off Day Starts Markets Lower: Grains See Follow Through Selling After Poor Closes and Removing Weather Premium
The risk off outside markets has grain and livestock lower. Grains also seeing follow through selling after poor closes yesterday and removing weather premium. Allison Thompson of The Money Farm has more.
January 19, 2023 08:54 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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