Early technical selling in corn and wheat after lower weekly closes, report positioning and talks progressing on the Black Sea Export deal. Soybeans rebound with meal making new highs on Argentina crop concerns. Cattle firmer with new highs in feeders on strong cash cattle trade on Friday. Profit taking in hogs.
Soybeans Rebound with New Highs in Meal, Corn and Wheat See More Technical Selling: Cattle Firm with Higher Cash, Hogs See Profit Taking
Technical selling in corn & wheat, report positioning and hope on the Black Sea Export deal. Soybeans rebound w/meal making new highs on Argentina crop concerns. Cattle up with strong cash. Profit taking in hogs.
March 06, 2023 09:36 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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