Corn and wheat seeing some end of year profit taking and with COVID cases surging in China, while soybeans are still holding some SA weather premium. Cattle are also supported by weather, with profit taking in the hogs. Chuck Shelby of Risk Management Commodities explains.
Grain and Livestock Futures Mixed: EOY Profit Taking, China COVID Cases, Weather Drive Markets
Corn and wheat seeing some end of year profit taking, while soybeans are building SA weather premium. Cattle are also supported by weather, profit taking in the hogs. Chuck Shelby of Risk Management Commodities.
December 29, 2022 12:31 PM
Related Stories
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.
Read Next
As producers navigate financial strain and D.C. disconnect, realities such as steep input costs, trade frustrations and E15 limbo are becoming decisive factors shaping the rural vote.
