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
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.
