Grains pushing higher with end of week corrective buying, but still keeping an eye on outside markets with this mornings Jobs Report hitting the equities, slow exports still a concerns with low Mississippi River issues. Hogs are seeing profit taking, with lower cash and live cattle finally respond to higher cash. Michelle Rook talks with Jim McCormick of AgMarket.Net.
Grains and Live Cattle Higher on End of Week Corrective Buying: Hogs See Profit Taking
Grains push higher with end of week corrective buying. Hogs are seeing profit taking, with lower cash and live cattle finally respond to higher cash. Michelle Rook talks with Jim McCormick of AgMarket.Net.
October 07, 2022 11:30 AM
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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.
Jamie Gieseke with Paradigm Futures says commodities are starting to gain favor with the funds on inflation fears and that includes grains. A China deal could just add fuel to the fire.
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