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
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.
Sam Hudson of Corn Belt Marketing says funds sold the early bounce in grain markets with no bullish story.
After a down day on Tuesday the grain markets were higher early Wednesday a result of short covering according to Lane Akre, economist with Pro Farmer. However, he thinks the market has also taken out too much weather premium.
Read Next
Reopening of the global fertilizer supply pinch point gives optimism but many questions remain.
