Grains ended higher Monday with wheat and corn putting in Black Sea war premium. Soybeans followed but did get some help from the meal market. Will the war headlines and upcoming financial news this week over shadow the WASDE? Nearby lean hogs saw follow through technical buying after a higher weekly close last week, while funds continued to press cattle on higher corn prices. Michelle Rook talks with Tommy Grisafi of Advance Trading.
Grains Rally with Corn and Wheat Putting in War Premium. Soybeans Follow: Funds Buy Nearby Hogs, While Higher Corn Pressures Cattle
Wheat and corn were higher putting in Black Sea war premium, while soybeans followed. Nearby hogs saw technical buying, with corn pressuring cattle. Michelle Rook talks with Tommy Grisafi of Advance Trading.
October 10, 2022 02:27 PM
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Brian Grete with Commstock Investments says, “We’ve seen China come in and be a fairly active buyer over the past several weeks here of new crop U.S. soybeans. There was more talk of that on Friday. And so that gave us some price support.”
Scott Varilek with Kooima Kooima Varilek says the live cattle futures made new lows for the move Thursday before finding support and putting in key reversals.
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