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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Arlan Suderman, chief commodities economist with StoneX, says the additional cut in winter wheat acres was a surprise but there were others as well.
Mike Zuzolo, Global Commodity Analytics, says grains were pressured by a host of factors including weather and fund liquidation.
Brad Kooima of Kooima Kooima Varilek says cattle futures are down with a risk off day in the ag markets. End of quarter profit taking and talk of a packer bailout is also weighing on futures.
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