Grains rebound after lower opening with reversal in outside markets despite the bearish CPI number and talk Russia may exit export deal. Livestock see mixed to lower trade with higher corn and despite higher cash cattle and hog trade reported. Michelle Rook talks with John Payne of Hedge Point Global Markets.
Grain Rebound On Turn in Outside Markets, Talk of Russia Pulling Out of Export Deal: Livestock Lower Despite Higher Cash
Grains reverse with outside markets amid bearish CPI, talk of Russia exiting export deal. Livestock lower despite higher cash cattle trade. Michelle Rook talks with John Payne of Hedge Point Global Markets.
October 13, 2022 02:01 PM
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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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