Grains are mixed at midday with corn and soybeans trying to hold early gains with help from the easing dollar, decent exports and report positioning. Wheat is lower with some profit taking. Cattle and hogs are seeing short covering as they are oversold and weekly exports were also helpful. Michelle Rook talks with Randy Martinson of Martinson Ag.
Grains Mixed at Midday on Consolidation and Report Positioning: Livestock See Short Covering Bounce and Decent Exports Supportive
Corn and soybeans holding small gains helped by the weaker dollar and decent exports. Livestock supported by short covering and strong weekly exports. Michelle Rook talks with Randy Martinson of Martinson Ag.
September 29, 2022 11:19 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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