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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Mike Zuzolo, Global Commodity Analytics, says grains were pressured by a host of factors including weather and fund liquidation.
Brad Kooima of Kooima Kooima Varilek says cattle futures are down with a risk off day in the ag markets. End of quarter profit taking and talk of a packer bailout is also weighing on futures.
DuWayne Bosse of Bolt Marketing says the trade action Friday was disappointing in corn and soybeans after key reversals on Thursday.
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