Grain and livestock prices are seeing mixed action with many markets consolidating as they hit chart or technical resistance. The market is posturing as well ahead of the Fed announcement and awaiting fresh news out of the Black Sea. The U.S. dollar index made new highs again and crude oil is lower so that is also having an impact on action. Michelle Rook is joined by Oliver Sloup of Blue Line Futures.
Grain and Livestock Prices Mixed: Trade Fed News, Strong Dollar, Black Sea Updates
Grain and livestock prices are mixed with many markets consolidating with the strong dollar and awaiting the Fed and Black Sea news. Michelle Rook is joined by Oliver Sloup of Blue Line Futures.
September 21, 2022 11:20 AM
Related Stories
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.
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.
