Markets start mixed on Friday with corrective buying in corn and wheat, while soybeans see continued harvest pressure. More technical selling in the cattle, despite strong cash and hogs try to extend gains. Michelle Rook has analysis with Scott Varilek of Kooima Kooima Varilek.
Markets Mixed with Corrective Buying in Corn and Wheat: More Technical Selling in Soybeans and Cattle
Markets mixed with corrective buying in corn & wheat. More technical selling in the cattle, despite strong cash and hogs try to extend gains. Michelle Rook has analysis with Scott Varilek of Kooima Kooima Varilek.
October 07, 2022 08:53 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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