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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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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