Grains end mixed with wheat slightly higher after continuing to chase Black Sea headlines. Corn and soybeans end lower on profit taking and hedge selling. Cattle make new highs then crash despite higher cash at $180 in the South and $188 to $191/$295 in the North. The Dow soared but how far will it go and what impact will it have on ag commodities? Darin Newsom with Barchart has analysis.
Wheat Slightly Higher Chasing War Headlines, Profit Taking Hits Row Crops, Cattle Make News Highs Then Crash Despite Higher Cash
Wheat ends slightly higher Thursday, but corn and soybeans finally set back. Cattle hit new highs then crashed despite higher cash. Darin Newsom with Barchart has the analysis.
July 20, 2023 06:14 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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