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
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Scott Varilek with Kooima Kooima Varilek says the outside market news has been a factor in cattle but the main catalyst for the selling has been sharply lower cash trade which started breaking early in the week.
Bryan Doherty with Total Farm Marketing says speculative selling is a common theme in the commodity markets.
Chip Nellinger of Blue Reef Agri-Marketing says the soybean complex saw technical selling with funds still holding a sizable long in soybeans and meal.
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