Grain and livestock prices continue under pressure as the macroeconomic markets weigh on commodities, especially the new highs in the dollar. Cattle react to Cattle on Feed news and hogs see follow through selling after lower weekly closes. Michelle Rook talks with Jeff Hoogendoorn of Professional Ag Marketing.
Markets Stay Red at Midday with the Dollar up to New Highs
Grain and livestock prices continue under pressure as the macroeconomic markets weigh on commodities, especially the new highs in the dollar. Michelle Rook talks with Jeff Hoogendoorn of Professional Ag Marketing.
September 26, 2022 11:58 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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