Grains End Mostly Lower on EOY Profit Taking, Slow Exports, Macro Market Spillover: What’s Ahead in 2023?

Grains finish mostly lower Thursday with profit taking, slow exports and negativity in outside macro markets. What will be the focus for markets to end the year? Tommy Grisafi of Advance Trading provides insight.

Grains finish mostly lower Thursday with profit taking, slow exports and negativity in outside macro markets. What will be the focus for markets to end the year and then into 2023? Tommy Grisafi of Advance Trading provides insight.

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Joe Kooima of Kooima Kooima Varilek says the gap lower opening in cattle futures Monday in response to the border reopening to Mexican imports was volatile. They anticipate more to come to price in the news, even after a $25 to $30 break in the futures recently.
Brian Grete with Commstock Investments says, “We’ve seen China come in and be a fairly active buyer over the past several weeks here of new crop U.S. soybeans. There was more talk of that on Friday. And so that gave us some price support.”
Scott Varilek with Kooima Kooima Varilek says the live cattle futures made new lows for the move Thursday before finding support and putting in key reversals.
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