Grains under pressure early with profit taking on a risk off day in the outside markets. Hogs see consolidative trade, while cattle are higher with the pullback in corn. Michelle Rook talks with Tomm Pfitzenmaier of Summit Commodity Brokerage.
Grains Under Pressure Early with Profit Taking in Risk Off Day: Hogs Consolidate, While Lower Corn Supports Cattle
Grains lower early with profit taking on a risk off day in outside markets. Hogs consolidate, while cattle rally on the pullback in corn. Michelle Rook talks with Tomm Pfitzenmaier of Summit Commodity Brokerage.
October 11, 2022 08:46 AM
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Scott Varilek with Kooima Kooima Varilek says cattle futures were seeing some profit taking early Friday as they are overbought. However, futures haven’t stayed down long with the strength in the cash market.
Don Roose of U.S. Commodities says talk of China buying U.S. corn and soybeans helped spur the rally, but it was a combination of factors.
Sam Hudson of Corn Belt Marketing says funds sold the early bounce in grain markets with no bullish story.
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