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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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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