Grain prices mixed early with corn and soybeans seeing a corrective bounce and getting help from the energy sector, while wheat is also seeing profit taking with new highs in the dollar and poor exports. Livestock are seeing early pressure on continued consolidation and lower product values, the higher dollar also is negative. Michelle Rook gets analysis with Rich Nelson of Allendale.
Grain Prices Open Mixed with Corrective Action, Livestock Under Pressure: News High in Dollar Eyed
Grain prices mixed with a corrective bounce in row crops, profit taking in wheat with new highs in the dollar. Livestock lower on consolidation. Michelle Rook gets analysis with Rich Nelson of Allendale.
September 22, 2022 08:53 AM
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DuWayne Bosse of Bolt Marketing says the trade action Friday was disappointing in corn and soybeans after key reversals on Thursday.
Scott Varilek with Kooima Kooima Varilek says cattle futures were seeing some profit taking early Friday as they are overbought. However, futures haven’t stayed down long with the strength in the cash market.
Don Roose of U.S. Commodities says talk of China buying U.S. corn and soybeans helped spur the rally, but it was a combination of factors.
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