Grains continue higher with corn and wheat putting in war premium and pulling soybeans along. How high do we go if corn can close above $7? Cattle react negatively to higher corn, while hogs continue to see technical buying. Michelle Rook gets analysis with Jeff Hoogendoorn of Professional Ag Marketing.
Markets Continue Higher Except Cattle: Wheat and Corn Put in War Premium Which Weighs on Cattle
Grains higher with corn and wheat putting in war premium, pulling soybeans up. Cattle sell off with higher corn, while hogs see technical buying. Michelle Rook talks to Jeff Hoogendoorn, Professional Ag Marketing.
October 10, 2022 11:26 AM
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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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