Grains ended lower on technical selling, harvest pressure and export concerns tied to all-time low water levels on the Mississippi River. However, wheat was also chasing headlines about hopes for an extension of the Ukraine export deal and rain chances in the Plains. Livestock staged another big rally on fund buying with spot month live cattle hitting the highest level since 2015 and hogs trading on China export hopes. Michelle Rook gets full analysis with Brian Grete of Pro Farmer.
Strong Close in Livestock on Fund Buying; Grains See Technical Selling, Harvest Pressure, Export Concerns and Hopes
Michelle Rook gets analysis with Brian Grete of Pro Farmer.
October 18, 2022 02:52 PM
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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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