Cattle markets rebound on lower corn and higher cash trade ideas, while hogs are consolidating. Grains are mixed midday with corn and wheat seeing some profit taking and spillover from lower crude oil. Michelle Rook talks with Brad Kooima of Kooima Kooima Varilek.
Mixed Trade with Profit Taking in Corn, Wheat and Hogs: Cattle Bounce with Lower Corn
Cattle markets rebound on lower corn and higher cash trade ideas, while hogs consolidate. Grains are mixed with corn and wheat seeing profit taking. Michelle Rook talks with Brad Kooima of Kooima Kooima Varilek.
October 11, 2022 11:30 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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