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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Scott Varilek with Kooima Kooima Varilek says cattle futures were seeing some profit taking early Friday as they are overbought. However, futures haven’t stayed down long with the strength in the cash market.
Don Roose of U.S. Commodities says talk of China buying U.S. corn and soybeans helped spur the rally, but it was a combination of factors.
Sam Hudson of Corn Belt Marketing says funds sold the early bounce in grain markets with no bullish story.
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