Grains close mixed on Monday with a big rally in soybeans pulling up corn, while wheat ended lower. Cattle were mixed with hogs setting back. USDA dealt a few surprises in the WASDE, including lower soybean yield by 1.4 bpa and 600,000 less acres. Corn yield and ending stocks were right in line with estimates, but is the crop still getting smaller? Cotton production was up around 1 million bales but the market acted like it didn’t buy into the numbers, ending well off lows. Michelle Rook gets full analysis with Darren Frye of Water Street Solutions.
Markets End Mixed on Monday: Surprises in WASDE Take Soybeans Sharply Higher
Grains close mixed with a big rally in soybeans pulling up corn, while wheat ended lower after the WASDE. Cattle were mixed, hogs set back. Michelle Rook gets analysis with Darren Frye of Water Street Solutions.
September 13, 2022 02:54 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.
Chip Nellinger of Blue Reef Agri-Marketing says the rally in soybeans is being driven by China demand and weather concerns.
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