Corn and wheat under pressure with COVID news in China and poor export inspections. Soybeans turn back higher with better export news and a rebound in crude oil. Livestock lower on demand fears. Michelle Rook is w/Shawn Hackett, Hackett Financial Advisors
Grains Turn Mixed as Soybeans Rebound on Export News: Livestock Lower on Demand Fears
Corn and wheat lower on China COVID concerns, poor exports. Soybeans reverse w/strong exports and a rebound in crude oil. Livestock down on demand fears. Michelle Rook is w/Shawn Hackett, Hackett Financial Advisors
November 28, 2022 11:34 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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