Mostly higher markets at midday except soybeans, as wheat sees a corrective bounce and pulls corn along, while harvest pressure and lower soybean meal hits the soybeans. Livestock futures are seeing corrective buying. Michelle Rook has analysis with Pat Von Tersch of Professional Ag Marketing.
Markets Mostly Higher Midday Except Soybeans: Wheat Pulls Corn Higher, Corrective Buying in Livestock
Mostly higher markets except soybeans, as wheat sees a corrective bounce and pulls corn along. Livestock futures are seeing corrective buying. Michelle Rook talks to Pat Von Tersch of Professional Ag Marketing.
October 05, 2022 02:37 PM
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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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