A mostly higher open quickly turns mixed as markets are watching outside markets which have reversed from overnight trends and awaiting Black Sea news and its impact on exports. Markets also gearing up for the USDA reports. Cattle seeing technical selling while hogs are supported by slight contraction in the Hogs and Pigs Report. Allison Thompson of The Money Farm joins Michelle Rook.
Markets Open Mostly Higher Then Turn Mixed on Report Positioning, Watching Black Sea Export News and Outside Marktets
A mostly higher open quickly turns mixed as markets are watching outside markets and awaiting Black Sea news and USDA reports. Allison Thompson of The Money Farm joins Michelle Rook.
September 30, 2022 08:45 AM
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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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