Corn and soybeans lower early with profit taking and slow exports, while wheat is trying to hold weather premium. Livestock seeing profit taking to start after the big up day Wednesday and new contract highs in live cattle, plus beef exports were poor. However, feeders and hogs rebound with EOY and report positioning. Michelle Rook breaks it down.
Grain and Livestock Futures Mixed: EOY Profit Taking and Disappointing Exports
Grains mixed with profit taking and slow exports weighing on row crops, wheat supported by weather. Livestock open lower then turn mixed with holiday, EOY and report positioning. Michelle Rook breaks it down.
December 22, 2022 09:36 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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