Grain mostly higher early with risk on in outside markets and the lower dollar, plus wheat is putting in some war and weather premium. Cattle back higher with the equities up and higher cash last week, while hogs are mixed to lower on spreading and consolidation. DuWayne Bosse from Bolt Marketing joins Michelle Rook.
Markets Mixed Early with Risk on in Outside Markets and Lower Dollar: Wheat Putting in War Premium
Markets mostly higher with risk on in outside markets, lower dollar and wheat is putting in war premium. Cattle follow DOW & higher cash, while hogs consolidate. DuWayne Bosse Bolt Marketing joins Michelle Rook.
October 17, 2022 08:57 AM
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Arlan Suderman, chief commodities economist with StoneX, says the additional cut in winter wheat acres was a surprise but there were others as well.
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.
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