Grain prices mostly higher, except wheat in a risk on day with outside markets like crude oil higher and the dollar sharply lower. What will it take to get corn and soybeans to close above $7 and $14? A disappointing day in livestock futures which faded the equity rally and saw more fund selling on early strength. Michelle Rook has analysis with Brian Grete of Pro Farmer.
Grain Prices Mostly Higher Except Wheat, in a Risk on Day: Livestock Continue to See Fund Liquidation
Grain prices mostly higher, except wheat, in a risk on day, while livestock faded higher equities as funds liquidated. Michelle Rook talks with Brian Grete of Pro Farmer.
October 04, 2022 02:55 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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