Corn and soybeans higher after holding major support the market is getting more technical buying awaiting harvest data. Wheat is seeing profit taking with the higher dollar. Funds back buying in cattle awaiting cash, while hogs consolidate with the drop in cutouts. Chuck Shelby, Risk Management Commodities, has more.
Row Crops See Technical Bounce Continue, Profit Taking in Wheat: Funds Back Buying in Cattle, Selling in Hogs
Row crops see the technical bounce continue awaiting yield data, wheat sees profit taking on a strong dollar. Funds back buying in cattle, while hogs consolidate. Chuck Shelby, Risk Management Commodities, has more.
September 14, 2023 01:05 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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