Grains end mixed with corn and wheat under pressure on profit taking and even some farmer selling, soybeans saw some support from better export inspections and higher soybean meal. Some report positioning was also noted. Cattle were higher with lower corn and higher cash ideas. Michelle Rook gets analysis from Don Roose of U.S. Commodities.
Grains End Mixed on Profit Taking and Report Positioning: Cattle Bounce on Lower Corn and Higher Cash Ideas
Grains end mixed with corn and wheat under pressure on profit taking and report positioning. Cattle higher with lower corn and higher cash ideas. Michelle Rook gets analysis from Don Roose of U.S. Commodities.
October 11, 2022 02:01 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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