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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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.
Scott Varilek with Kooima Kooima Varilek says cattle futures were seeing some profit taking early Friday as they are overbought. However, futures haven’t stayed down long with the strength in the cash market.
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