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
Related Stories
Joe Kooima of Kooima Kooima Varilek says the gap lower opening in cattle futures Monday in response to the border reopening to Mexican imports was volatile. They anticipate more to come to price in the news, even after a $25 to $30 break in the futures recently.
Brian Grete with Commstock Investments says, “We’ve seen China come in and be a fairly active buyer over the past several weeks here of new crop U.S. soybeans. There was more talk of that on Friday. And so that gave us some price support.”
Scott Varilek with Kooima Kooima Varilek says the live cattle futures made new lows for the move Thursday before finding support and putting in key reversals.
Read Next
Tapped by Secretary Rollins, Kip Tom is building a faster, satellite-driven replacement for NASS’s aging survey system, one he says could turn monthly reports into biweekly ones by year’s end for multiple crops.
Commodity Market Futures
Futures prices on grains, livestock, oil and more
Farm Journal TV
Trusted ag insights and real stories from rural America. Start your free trial today.
Pro Farmer
Join Pro Farmer today to access trusted market intelligence and expert analysis that help you make more confident decisions.
