Corn and wheat prices close higher still building some war premium, soybeans consolidate with lower soybean meal, disappointing exports and South American rains. Many of the markets still had a hangover from the Fed move including the dollar which pushed into fresh highs. Cotton and the livestock sector also suffered from recessionary fears, despite $1 higher cash cattle trade. Michelle Rook gets analysis with Shawn Hackett of Hackett Financial Advisors.
Corn and Wheat Higher Holding War Premium: Cotton, Livestock See Hangover from Fed Fears
Corn and wheat prices close higher holding war premium, soybeans consolidate with lower meal. Cotton and livestock down on Fed fears. Michelle Rook gets analysis with Shawn Hackett of Hackett Financial Advisors.
September 22, 2022 02:06 PM
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DuWayne Bosse of Bolt Marketing says the trade action Friday was disappointing in corn and soybeans after key reversals on Thursday.
Scott Varilek with Kooima Kooima Varilek says cattle futures were seeing some profit taking early Friday as they are overbought. However, futures haven’t stayed down long with the strength in the cash market.
Don Roose of U.S. Commodities says talk of China buying U.S. corn and soybeans helped spur the rally, but it was a combination of factors.
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