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
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Grain markets crashed on Thursday with profit taking and fund liquidation tied to disappointment over the lack of agricultural purchase agreements during day one of the U.S. China summit.
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.
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