Grains ended mixed on Thursday influences by technicals, outside markets and money flow more so than fundamentals. Live cattle traded higher reacting to steady to higher cash trade with $142 paid in the South up $1, feeders failed. However, hogs saw more technical buying on ideas the cash is bottoming. Michelle Rook gets details with Chip Nellinger of Blue Reef Agri-Marketing.
Grains End Lower, Livestock Higher Except Feeders: Money Flow Dominates Trade Over Fundamentals
Grains ended mixed on Thursday influences by technicals, outside markets and money flow. Livestock were mostly higher with stronger cash. Michelle talks with Chip Nellinger of Blue Reef Agri-Marketing.
September 15, 2022 05:44 PM
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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.
Garrett Toay with AgTraderTalk says after the big rally to start the week the grain markets saw some profit taking and corrective selling.
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