Grains open higher except soybeans, with technical buying and renewed concerns about the Black Sea conflict supporting wheat, corn is following. Soybeans seeing harvest pressure and lower soybean oil a drag. Livestock futures are mixed seeing some corrective buying in hogs, but more fund liquidation in cattle after a down day Tuesday. However, all the markets remain sensitive to outside market action. Michelle Rook talks with Darren Frye of Water Street Solutions.
Grains Mostly Higher with Renewed Black Sea Export Concerns: Livestock Mixed
Grains mostly higher on renewed concerns about the Black Sea exports. Soybeans trying to follow. Livestock futures mixed. Michelle Rook talks with Darren Frye of Water Street Solutions.
September 28, 2022 09:36 AM
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Grains saw nice reversals and closed higher on Monday, which was a victory considering the amount of bearish news the market had to absorb according to Kevin Duling with KD Investors.
Brad Kooima says cattle were catching some spillover selling from the news the Iran peace deal had been signed, the higher equity markets and lower crude oil futures.
Jim McCormick of AgMarket.Net says the grain market has taken out premium tied to weather, war and China.
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