Grains open mostly higher, except wheat, trading risk on in outside markets, lower dollar, China COVID easing, SA weather. Live cattle and hogs extend gains and put in new contract highs after USDA reports.
Mostly Higher Markets Except Wheat, Feeders: Trading Outside Markets, SA Weather and Reports
Grains open mostly higher, except wheat, trading risk on in outside markets, lower dollar, China COVID easing, SA weather. Live cattle and hogs extend gains and put in new contract highs after USDA reports.
December 27, 2022 09:02 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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