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
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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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