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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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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