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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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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