Markets were mostly higher on Monday except wheat with a risk on day in outside markets like crude oil supportive. However, soybeans also saw a technical recovery after a down week and help from product strength. Corn was still digesting the lower quarterly stocks, while wheat saw some profit taking. Both cattle and hogs were higher on short covering, but will there be any follow through buying? Michelle Rook talks with Alan Brugler of Brugler Marketing.
Markets Mostly Higher to Start the Week and New Quarter
Markets were mostly higher on Monday except wheat with a risk on day in outside markets supportive. Both cattle and hogs were higher on short covering. Michelle Rook talks with Alan Brugler of Brugler Marketing.
October 03, 2022 02:13 PM
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DuWayne Bosse of Bolt Marketing says the trade action Friday was disappointing in corn and soybeans after key reversals on Thursday.
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.
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