Grains see corrective buying but will it hold? And does the wheat market need to add some weather premium? Livestock under pressure with cattle still ignoring the weather, while lower cash and cutouts weigh on hogs. Analysis with Allison Thompon of The Money Farm.
Grains See Turn Around Tuesday Corrective Buying: Livestock Mostly Lower
Grains see corrective buying but will it hold? And does the wheat market need to add some weather premium? Livestock under pressure. Analysis with Allison Thompon of The Money Farm.
December 20, 2022 08:48 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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