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
Joe Kooima of Kooima Kooima Varilek says the gap lower opening in cattle futures Monday in response to the border reopening to Mexican imports was volatile. They anticipate more to come to price in the news, even after a $25 to $30 break in the futures recently.
Brian Grete with Commstock Investments says, “We’ve seen China come in and be a fairly active buyer over the past several weeks here of new crop U.S. soybeans. There was more talk of that on Friday. And so that gave us some price support.”
Scott Varilek with Kooima Kooima Varilek says the live cattle futures made new lows for the move Thursday before finding support and putting in key reversals.
Read Next
Joel Gross contends a retaliatory hammer dropped on his operation, costing him hundreds of thousands of dollars.
Commodity Market Futures
Futures prices on grains, livestock, oil and more
Farm Journal TV
Trusted ag insights and real stories from rural America. Start your free trial today.
Pro Farmer
Join Pro Farmer today to access trusted market intelligence and expert analysis that help you make more confident decisions.
