Grains under pressure early with profit taking on a risk off day in the outside markets. Hogs see consolidative trade, while cattle are higher with the pullback in corn. Michelle Rook talks with Tomm Pfitzenmaier of Summit Commodity Brokerage.
Grains Under Pressure Early with Profit Taking in Risk Off Day: Hogs Consolidate, While Lower Corn Supports Cattle
Grains lower early with profit taking on a risk off day in outside markets. Hogs consolidate, while cattle rally on the pullback in corn. Michelle Rook talks with Tomm Pfitzenmaier of Summit Commodity Brokerage.
October 11, 2022 08:46 AM
Related Stories
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.
Read Next
The U.S. House approved legislation to allow year-round sales of E15 gasoline nationwide, aiming to lower fuel prices while facing pushback over potential refinery costs and the impact on the national debt.
