Grains open sharply lower on news Russia is extending the export deal. Cattle higher with help from lower corn, but awaiting the Fed decision and cash direction. Hogs set back. @michellerookag with @scottevarilek
Grains Open Sharply Lower as Russia Resumes Export Deal: Cattle Higher with Lower Corn Awaiting Cash and Fed Decision
Grains open sharply lower on news Russia is resuming the export deal. Cattle higher w/lower corn but awaiting Fed decision and cash direction. Hogs set back. @michellerookag w/ @scottevarilek
November 02, 2022 09:11 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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