Grains Leaning Higher Friday but Down for the Week Looking for Direction: Live Cattle Make Contract Highs with Higher Cash

Grains leaning higher Friday but down for the week and searching for direction. Livestock lower except live cattle which hit more contract highs with higher cash. Chip Nellinger Blue Reef Agri-Marketing has analysis.

Grains were leaning higher on Friday in a quiet session but were all down slightly for the week. Row crops are searching for direction and the next bullish story out of South America. Wheat may start to put in war premium with upcoming talks on the Black Sea Export deal. Live cattle scored contact highs with higher cash. Southern deals were $162 up $2. $257 in the north.

AgWeb-Logo crop
Related Stories
Chip Nellinger of Blue Reef Agri-Marketing says the soybean complex saw technical selling with funds still holding a sizable long in soybeans and meal.
Joe Kooima of Kooima Kooima Varilek says the bounce in cattle isn’t unexpected as Friday’s selloff may have been overdone and with the financial markets seeing a recovery.
The grain markets saw an ugly October with huge losses on fund selling. Brian Grete with CommStock Investments says he’s not sure if the fund selling is done.
Read Next
Grab yer shovel: Hidden in five mason jars, a forgotten hoard of precious coins was discovered beneath a fieldstone wall.
Get News Daily
Get Market Alerts
Get News & Markets App