Grains end mostly higher with wheat leading as dollar reverses lower and crude oil rallies, Black Sea export concerns were also supportive. Livestock futures continued to see technical selling and ended mostly lower. Michelle Rook talks with Chip Nellinger of Blue Reef Agri-Marketing.
Grains End Mostly Higher with Dollar Plunge and Black Sea Export Concerns: Livestock See More Technical Selling
Grains end mostly higher with wheat leading with lower dollar and Black Sea export concerns. Livestock futures saw more technical selling. Michelle Rook talks with Chip Nellinger of Blue Reef Agri-Marketing.
September 28, 2022 02:05 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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