Grains remain lower with more technical selling, extension of Black Sea Export Deal and risk off outside markets. Cattle firmer with lower corn and report positioning, plus $1 higher cash in the South. Hogs firming on more technical buying. Michelle Rook w/John Heinberg of Total Farm Marketing.
Grains Lower on Technical Selling, Black Sea Export Deal Renewal: Cattle Higher with Lower Corn, Higher Cash
Grains see more technical selling, extension of Black Sea Export Deal and risk off outside markets. Cattle firmer with lower corn and higher cash. Michelle Rook w/John Heinberg, Total Farm Marketing.
November 17, 2022 12:02 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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