Grains and cotton under early pressure from China COVID protests and lower crude oil. Dollar is down and could be setting a new four month low. Live cattle open higher then see profit taking despite higher cash. Michelle Rook gets details with Darin Newsome, Sr. Market Analyst for Barchart.
Grains Under Pressure with China COVID Protests and Lower Crude Oil: Cattle Mixed
Grains and cotton under early pressure from China COVID protests and lower crude oil. Dollar is down. Live cattle see profit taking despite higher cash. Michelle Rook with Darin Newsome of Barchart.
November 28, 2022 09:01 AM
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Dave Chatterton with Strategic Farm Marketing says funds have sold and liquidated hard the last three weeks in the corn market and while they took their foot off the gas on Monday he doesn’t think the selling is done.
Grain markets all made new lows for the move on additional fund long liquidation says Randy Martinson with Martinson Ag Risk Management.
Mark Knight with Farmers Keeper Financial says the funds are exiting as the grains have divorced from the crude oil market and are trading weather.
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