Soybeans are seeing pressure with Brazilian competition and news of a cargo being imported into the SE U.S., while corn is getting a boost from more China corn biz. Wheat is putting in some weather premium with cold temps in the forecast and concerns about the Black Sea grain deal. Cattle take a breather on profit taking and hedge pressure, while hogs try to bounce off of contract lows. Ted Seifried of Zaner Ag Hedge has analysis.
Soybeans Fall on Brazil Imports, With China Biz Supporting Corn: Corrective Action in Hogs and Cattle
Soybeans down on news of Brazil imports, corn gets a boost from China sales, wheat puts in weather & war premium. Cattle see profit taking & hedge pressure, w/short covering in hogs. Ted Seifried, Zaner Ag Hedge.
April 14, 2023 11:36 AM
Related Stories
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.
Read Next
Farmers in parts of the High Plains and Southeast need a break from relentless drought, while nationwide planting progress is outpacing the five-year average.
