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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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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