Grain prices ended mixed on Monday with row crops shaking off the early risk off mood from the outside markets as they held 100 day moving averages. Wheat was pressured by technical selling, rains in Argentina and the early strength in the dollar. Live and feeder cattle futures were mostly higher with technical buying and stronger cash trade ideas. Lean hog futures were also firmer except October with the cash index continuing to rise and provide support. Michelle Rook talks with Pat Von Tersch of Professional Ag Marketing.
Market Prices Leaning Higher on Mondays Close Except Wheat: Shaking Off Early Risk Off Mood
Grain prices ended mixed with row crops shaking off the early risk off in the outside markets. Livestock leaning higher with cash supportive. Michelle Rook talks with Pat Von Tersch of Professional Ag Marketing.
September 19, 2022 02:01 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.
Garrett Toay with AgTraderTalk says after the big rally to start the week the grain markets saw some profit taking and corrective selling.
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