Mostly lower ag markets. Cattle and hogs react negatively to Middle East conflict, while wheat sees short covering putting in risk premium. Corn and soybeans position ahead of the WASDE but also see hedge pressure. Mark Schultz, Northstar Commodity, has more.
Markets Mostly Lower Except Wheat: React to Middle East Conflict, Harvest, Upcoming WASDE
Cattle and hogs lower on Middle East conflict, while wheat sees short covering. Corn and soybeans position ahead of the WASDE, also see hedge pressure. Mark Schultz, Northstar Commodity, has more.
October 09, 2023 02:36 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.
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