Markets continue mixed at midday. Profit taking a feature plus spillover with a risk off outside market environment due to the disappointing CPI impacting the commodity sector and fear of a rail strike. Livestock are also seeing cattle hog spreading amid a more favorable outlook for cash cattle this week. Michelle Rook gets an update from Brad Kooima of Kooima Kooima Varilek.
Grain and Livestock Mixed: Risk Off Outside Markets on CPI and Rail Strike Feature Trigger Profit Taking in Cattle and Row Crops
Markets continue mixed with profit taking and spillover from outside markets on the CPI news. Livestock are seeing cattle hog spreading. Michelle Rook gets an update from Brad Kooima of Kooima Kooima Varilek.
September 13, 2022 02:54 PM
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Grain markets crashed on Thursday with profit taking and fund liquidation tied to disappointment over the lack of agricultural purchase agreements during day one of the U.S. China summit.
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.
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