Grains firmer to start with new contract highs in soybean meal on Argentina weather concerns supporting soybeans, corn and wheat see corrective buying. More profit taking in cattle with lower cutouts, while hogs are seeing a bounce with a rebound in cutouts and firmer cash. Michelle Rook has analysis.
Grains Higher with Corrective Buying in Corn and Wheat, SA Weather Supports Soybeans and Meal: Lower Cutouts Hit Cattle, Hogs Bounce
Soybeans higher with new contract highs in soybean meal on Argentina weather, corn and wheat see corrective buying. More profit taking in cattle w/ lower cutouts, while hogs up. Michelle Rook has analysis.
December 07, 2022 08:55 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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