Grain prices rally at midday with wheat taking the leadership role on corrective buying and that is supporting corn and soybeans, despite negative outside markets. Is money flowing into commodities? Live cattle scored new contract highs in the February on back on fund buying and higher cash ideas, feeders reacting to higher corn. Meanwhile hogs are mixed. Michelle Rook gets details with Vince Boddicker of Farmers Trading Company.
Grain Prices Rally Midday, Despite Negative Outside Markets: Livestock Prices Mixed: Is Money Flowing Into Commodities?
Grain prices rally. Wheat leads on corrective buying, pulls row crops, despite negative outside markets. Deferred live cattle hit contract highs. Michelle Rook talks with Vince Boddicker of Farmers Trading Company.
September 20, 2022 11:16 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
From fragile Wisconsin ground to deep Illinois prairie, Andy Benson and Ryan Frieders are adapting their soil-management practices to keep inputs working effectively, yields improving and their respective farms on course for a brighter future.
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.
