Grains were able to close in the green on Tuesday. Livestock were mixed with lean hogs higher, live and feeder cattle lower. Brian Splitt, Ag Market.Net, looks at the reasons why grains were insulated from the outside market sell off. Part of the reason being traders are hesitant to build short positions given the fact Chinese importers now have tariff exemptions that may prompt buying anytime.
Splitt also looks at the current market cycle and how previous contracts have acted just ahead of a WASDE report. That may be why it’s a good time to consider marketing some grain on the farm.
Listen to Splitt’s full comments right here: