Grains mixed with corn and wheat seeing more technical selling with the higher dollar, while soybeans are seeing a technical bounce, despite the continued sharp selloff in soybean oil. Live cattle see early pressure despite steady to higher cash, profit talking in hogs. Michelle Rook has analysis.
Grain and Livestock Futures Mixed Early: More Technical Selling in Corn and Wheat, Soybeans Bounce
Corn and wheat see more technical selling w/a higher dollar. Technical bounce in beans, despite the continued selloff in BO. Live cattle see early pressure despite steady to higher cash, profit talking in hogs.
December 02, 2022 08:54 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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