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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Scott Varilek with Kooima Kooima Varilek says cattle futures were seeing some profit taking early Friday as they are overbought. However, futures haven’t stayed down long with the strength in the cash market.
Don Roose of U.S. Commodities says talk of China buying U.S. corn and soybeans helped spur the rally, but it was a combination of factors.
Sam Hudson of Corn Belt Marketing says funds sold the early bounce in grain markets with no bullish story.
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