Livestock continue to rally on technical buying and strong fundamentals. Grains mixed with corn and soybeans seeing technical selling, harvest pressure and export concerns, wheat bounces. Michelle Rook talks with Scott Varilek of Kooima Kooima Varilek.
Livestock Rally on Technical Buying and Strong Fundamentals: Corn and Beans See Fund Selling, Harvest Pressure and Export Concerns
Livestock rally on technical buying and strong fundamentals. Corn and beans see fund selling, harvest pressure and export concerns, wheat bounces. Michelle Rook talks with Scott Varilek of Kooima Kooima Varilek.
October 19, 2022 08:47 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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