Grain and livestock prices open higher with help from the risk on in the outside markets, especially the lower dollar. Grains also seeing support from the crop progress numbers. However, cattle struggle to hold early gains. Michelle Rook talks with Steve Freed of ADM Investor Services.
Markets Start off Higher With Help From Risk On in the Outside Markets: Grains Consolidating While Cattle Struggle to Hold Gains
Grain and livestock prices open higher with help from the risk on in the outside markets. However, cattle struggle to hold early gains. Michelle Rook talks with Steve Freed of ADM Investor Services.
October 04, 2022 08:50 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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