Grain markets lower early with harvest pressure, disappointing exports and the higher dollar once again factors. Livestock open higher then turn mixed. Hogs trying to bounce off 10 month lows with decent exports, while cattle continue to see technical selling on rallies and with lower cutouts. Michelle Rook is joined by Allison Thompson of The Money Farm.
Grains Lower with Harvest Pressure and Slow Exports: Livestock Open Higher then Turn Mixed
Grain markets lower early with harvest pressure, slow exports and the higher dollar once again factors. Livestock open higher then turn mixed. Michelle Rook is joined by Allison Thompson of The Money Farm.
October 06, 2022 08:44 AM
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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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