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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Allison Thompson with The Money Farm says the failure was likely position squaring heading into the three day holiday plus markets ran into chart resistance and saw some profit taking.
Scott Varilek with Kooima Kooima Varilek says cattle futures were struggling early Thursday with lower cash as the packers are trying to break the market with their own inventory.
Darren Frye with Water Street Solutions says the follow through buying was very important to show the higher close on Tuesday was not a head fake.
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