Grains under pressure with risk off outside markets and end of month positioning, despite some fresh soybean export biz. Live cattle correcting, while hogs are firmer on short covering. Michelle Rook talks with Rich Nelson of Allendale.
Grains and Cattle Lower with Risk Off Outside Markets and End of Month Positioning: Hogs See Short Covering
Grains lower with risk off outside markets and end of month positioning, despite soybean export biz. Live cattle correcting, while hogs are firmer on short covering. Michelle Rook talks to Rich Nelson, Allendale.
October 28, 2022 08:47 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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