Grain and livestock prices continued lower into the close on Friday with the risk off day in the outside markets, especially the fresh highs in the dollar. Michelle Rook summarizes the day and looks ahead at how long the pain will continue with Jim McCormick at AgMarket.Net.
Friday Market Prices All Lower as Risk Off Day in Outside Markets Spills Over, Including Fresh Highs in the Dollar
Grain and livestock prices continued lower into the close on Friday with the risk off day in the outside markets. Michelle Rook looks at how long the pain will continue with Jim McCormick at AgMarket.Net.
September 23, 2022 02:15 PM
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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.
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