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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DuWayne Bosse of Bolt Marketing says the trade action Friday was disappointing in corn and soybeans after key reversals on Thursday.
Scott Varilek with Kooima Kooima Varilek says cattle futures were seeing some profit taking early Friday as they are overbought. However, futures haven’t stayed down long with the strength in the cash market.
Don Roose of U.S. Commodities says talk of China buying U.S. corn and soybeans helped spur the rally, but it was a combination of factors.
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