A mixed day in grain and livestock markets. Soybeans held above $15 maintaining Argentina weather premium, while corn hit chart resistance and set back with wheat on end of the year profit taking and rising COVID cases in China. Live cattle made some new contract highs with weather and firming cash bids, while hogs consolidated. John Heinberg of Total Farm Marketing has details.
Corn, Wheat and Hogs Lower on Profit Taking and China COVID Cases: Soybeans and Cattle Trade Weather
Soybeans held SA weather premium, corn and wheat saw EOY profit taking and rising China COVID cases. LC made some new contract highs on weather and firming cash bids. John Heinberg, Total Farm Marketing.
December 29, 2022 02:18 PM
Related Stories
Grain markets all made new lows for the move on additional fund long liquidation says Randy Martinson with Martinson Ag Risk Management.
Mark Knight with Farmers Keeper Financial says the funds are exiting as the grains have divorced from the crude oil market and are trading weather.
Garrett Toay with AgTraderTalk says the grains fell despite the sharply higher crude oil market but why now?
Read Next
East-central Iowa field agronomist says misjudging corn growth stage, not herbicide choice, can be the biggest risk in post-emerge passes.
