Corn, soybeans and cotton under pressure with rising COVID cases in China, lower crude oil and the higher dollar. Wheat saw a technical bounce. Live cattle end lower except December with ideas of higher cash offset by technical selling and lower cutouts. Hogs got a boost from China export hopes. Michelle Rook gets insight from Darren Frye Water Street Solutions.
Corn, Soybeans Lower with COVID Cases in China, Lower CO, Wheat Sees Technical Bounce: More Technical Selling in Live Cattle
Corn, soybeans lower w/rising COVID cases in China, lower CO and a strong dollar. Wheat sees a technical bounce. Live cattle lower on technical selling. Michelle Rook w/ Darren Frye Water Street Solutions.
November 15, 2022 06:40 AM
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Mike Zuzolo, Global Commodity Analytics, says grains were pressured by a host of factors including weather and fund liquidation.
Brad Kooima of Kooima Kooima Varilek says cattle futures are down with a risk off day in the ag markets. End of quarter profit taking and talk of a packer bailout is also weighing on futures.
DuWayne Bosse of Bolt Marketing says the trade action Friday was disappointing in corn and soybeans after key reversals on Thursday.
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