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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Mike Zuzolo, Global Commodity Analytics, says grains were pressured by a host of factors including weather and fund liquidation.
Brad Kooima of Kooima Kooima Varilek says cattle futures are down with a risk off day in the ag markets. End of quarter profit taking and talk of a packer bailout is also weighing on futures.
DuWayne Bosse of Bolt Marketing says the trade action Friday was disappointing in corn and soybeans after key reversals on Thursday.
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