A higher start in grain and livestock prices with higher outside markets like the DOW and crude oil helping out, but corn and wheat are continuing to trade the positive report numbers from Friday. Soybeans trying to follow and did see some export business this morning to help. Cattle are seeing corrective buying, with hogs sliding with more fund liquidation and lower cutouts. Michelle Rook gets details with Vince Boddicker of Farmers Trading Company.
Markets Start Mostly Higher in a More Risk on Day but Will Gains Hold?
Markets start mostly higher with a risk on day, report digestion continues and there was some export news, but will gains hold? Michelle Rook gets details with Vince Boddicker of Farmers Trading Company.
October 03, 2022 08:47 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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