Grains continue mostly higher, but wheat has taken the lead. Soybeans see fund buying with lower Argentina crop ratings and contract highs in meal supportive, corn following but off early highs. Wheat has started to lead on short covering. Cattle are seeing profit taking after contract highs yesterday and higher cash. Hogs mixed. Kent Beadle of Paradigm Futures.
Grains Mostly Higher but Wheat Takes the Lead: Cattle See Profit Taking Despite Higher Cash, Hogs Mixed
Soybeans sees SA weather market, contract highs in meal supportive. Wheat now leading on short covering, corn following. Cattle see profit taking after contract highs, higher cash. Kent Beadle of Paradigm Futures.
December 30, 2022 11:21 AM
Related Stories
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.
Read Next
As producers navigate financial strain and D.C. disconnect, realities such as steep input costs, trade frustrations and E15 limbo are becoming decisive factors shaping the rural vote.
