Grains and cotton end higher on the partial easing of China’s COVID policies, higher crude oil and the lower dollar, continuing to digest the CPI data. Cattle saw profit taking. Michelle Rook wraps up the week with Tommy Grisafi of Advance Trading.
Grains, Cotton End Higher on China COVID News, Lower Dollar: Profit Taking in Cattle
Grains and cotton higher on easing China COVID policies, higher crude oil, sharply lower dollar, continuing to digest the CPI data. Cattle saw profit taking. Michelle Rook w/ Tommy Grisafi of Advance Trading.
November 11, 2022 03:47 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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