Global recession fears continue to drive risk off fund liquidation in most markets. U.S. dollar hitting new highs and poised to go up to 120. What does that mean for the grain and livestock markets? Harvest pressure and poor export inspections and Grain Stocks Report also eyed. Michelle Rook talks with Mark Schultz of Northstar Commodity.
Grain and Livestock Prices See Significant Fund Liquidation as Dollar Hits New Highs on Recessionary Fears
Global recession fears continue to drive risk off fund liquidation in the markets. Harvest pressure and Grain Stocks Report also eyed. Michelle Rook talks with Mark Schultz of Northstar Commodity.
September 26, 2022 01:53 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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