Grains open lower with outside markets like the higher dollar a negative influence, however profit taking, harvest pressure and the collapse of cash basis levels are also factors. Livestock are trying to recover after fund selling Tuesday but live cattle continue to struggle. Michelle Rook talks with Nick Tsiolis of Farmer’s Keeper.
Corn and Beans See Pressure as Dollar Rebounds: Hogs Bounce while Live Cattle Struggle
Grains open lower pressured by the higher dollar, corrective selling, harvest pressure and collapsing cash basis. Livestock try to bounce. Michelle Rook talks with Nick Tsiolis of Farmer’s Keeper.
October 05, 2022 02:37 PM
Related Stories
The grain markets were sharply lower Thursday morning with soybeans seeing 30-cent losses on disappointment the China summit has not produced any agricultural purchase agreements.
Sam Hudson with Cornbelt Marketing says corn and soybeans were firmer on inflationary buying and optimism regarding the China summit. Cattle soared with higher cash.
Jamie Gieseke with Paradigm Futures says commodities are starting to gain favor with the funds on inflation fears and that includes grains. A China deal could just add fuel to the fire.
Read Next
The U.S. House approved legislation to allow year-round sales of E15 gasoline nationwide, aiming to lower fuel prices while facing pushback over potential refinery costs and the impact on the national debt.
