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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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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