All the markets were higher with the risk on day Monday. However, weather was also supportive for the grains and soybeans, plus the Argentina grain inspectors strike, record crush in March and strong technicals brought in some fund buying. Cattle back higher higher beef and cash ideas and the futures discount, while funds covered shorts in the hogs. Matt Bennett of AgMarket.Net has it all.
Risk On Fund Buying in the Ag Markets, Plus Grains Eye Weather, Argentina Strike: Cattle Recover on Higher Cash Ideas
Fund buying with the risk on day and strong technicals support ag markets. Plus, grains watch weather and the Argentina strike. Cattle recover with higher cash ideas. More with Matt Bennett of AgMarket.Net.
April 17, 2023 02:21 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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