All the markets started higher on Tuesday following a rebound in outside markets and a weaker dollar, but those reversed at midday as recessionary fears on the Fed action continue to be priced into the markets. As a result livestock, cotton and soybeans all retreated as well to end lower with more fund liquidation. Corn and wheat held some gains on corrective buying and higher crude oil. Michelle Rook has analysis with John Payne of Hedge Point Global Markets.
Feed Grains See Corrective Bounce Tuesday, Soybeans and Livestock Give up Early Gains as DOW Turns Lower and Dollar Firms
Grain and livestock started higher with a rebound in outside markets and a weaker dollar. Those reversed resulting in a lower close except feed grains. Michelle Rook talks to John Payne of Hedge Point Global Markets.
September 27, 2022 02:05 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.
