Grain prices open lower with risk off selling continuing from Friday and then turn mixed. Macroeconomic concerns continue to be a headwind especially with the higher dollar. Cattle open mixed and then rebound digesting the Cattle of Feed Report, hogs trying to recover as well. Michelle Rook talks with Tomm Pfitzenmaier of Summit Commodity Brokerage.
Grains Prices See More Risk Off Selling on Open Then Turn Mixed: Livestock Mixed with Cattle Digesting Cattle on Feed
Grain prices open lower with risk off selling then turn mixed. Cattle open mixed and then rebound digesting the Cattle of Feed Report. Michelle Rook talks with Tomm Pfitzenmaier of Summit Commodity Brokerage.
September 26, 2022 08:48 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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