Mixed markets on Wednesday. Corn, soybeans and cattle saw corrective selling and profit taking, short covering and weather concerns supported wheat. China sanction talk and a looming rail strike mixed in. Michelle Rook has full analysis with DuWayne Bosse of Bolt Marketing.
Markets Close Mixed Wednesday: Corrective Selling, China Tariff Talk, and Rail Strike Mixed In
Mixed markets on Wednesday. Corrective action, China sanction talk and a looming rail strike helped drive action. Michelle Rook has analysis with DuWayne Bosse of Bolt Marketing.
September 15, 2022 05:46 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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