Grains lower this morning seeing profit taking and technical selling after a disappointing close yesterday in corn and wheat, and with caution ahead of the Fed announcement today. Moisture is the Plains and Corn Belt is also a factor. Livestock are trading mixed consolidating after a higher day yesterday and with new contract highs in deferred live cattle. Michelle Rook has details.
Grains See Technical Selling Early, Ahead of Fed Announcement: Livestock Consolidating
Early pressure in grains with technical selling ahead of the Fed announcement. Livestock consolidate after the higher day Tuesday. Michelle Rook has details.
December 14, 2022 11:25 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.
