Grains ended lower due to poor exports, the strong dollar, harvest pressure and technical selling. Cattle ended mostly lower despite higher cash and lower corn, while hogs had a gap higher open with fund buying, strong exports and higher cutouts supportive. Michelle Rook gets analysis from Ted Seifried of Zaner Ag Hedge.
Grains End Lower on Poor Exports and Strong Dollar: Cattle See More Selling Despite Higher Cash but Exports, Funds Support Hogs
Grains ended lower with poor exports, a strong dollar and harvest pressure. Cattle mostly lower despite higher cash, while hogs rallied on strong exports. Michelle Rook talks with Ted Seifried of Zaner Ag Hedge.
October 06, 2022 02:04 PM
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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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