Grain and livestock futures continue mixed. Corn and soybeans are seeing follow through selling and continued profit taking after 2 1/2 months highs Monday, while cotton is firmer. Feeders getting some help from softer corn, but live cattle are seeing some weakness. Outside markets are stabilizing after the melt down Tuesday as PPI numbers were mixed. John Payne of Hedge Point Global Markets joins Michelle Rook with analysis.
Markets Mixed Midday: Corrective Action Continues Amid Stable Outside Markets
Grain and livestock futures continue mixed, with outside markets stabilizing after the PPI data. John Payne of Hedge Point Global Markets joins Michelle Rook with analysis.
September 15, 2022 05:46 PM
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Grain markets crashed on Thursday with profit taking and fund liquidation tied to disappointment over the lack of agricultural purchase agreements during day one of the U.S. China summit.
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.
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