Grains see two-sided trade consolidating, while watching outside markets like crude oil which is seeing a plunge. Cattle seeing higher prices on cash strength and ahead of the report, while hogs see seasonal weakness and profit taking. Michelle Rook w/ Chuck Shelby of Risk Management Commodities.
Grains Mixed Consolidating, Watching Outside Markets: Strong Cash Supports Cattle
Grains two-sided, consolidate watching outside markets like lower crude oil. Cattle seeing higher prices on cash strength with profit taking in hogs. Michelle Rook w/ Chuck Shelby of Risk Management
November 18, 2022 09:08 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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