Soybean still slightly higher with China’s easing COVID policy, export demand and higher meal, but soybean oil is pulling contract off their highs. Corn and wheat seeing more fund liquidation with slow demand. Cattle supported by lower corn and strong cash, with more technical buying in hogs. Michelle Rook has analysis.
Grains Mixed with More Fund Selling in Corn and Wheat, Soybeans and Livestock Firm.
Soybean slightly higher w/ China’s easing COVID policy, export demand. Corn & wheat see more fund liquidation w/ slow demand. Cattle up w lower corn & strong cash, fund buying in hogs. Michelle Rook has analysis.
December 05, 2022 01:56 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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