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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Dave Chatterton with Strategic Farm Marketing says funds have sold and liquidated hard the last three weeks in the corn market and while they took their foot off the gas on Monday he doesn’t think the selling is done.
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.
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