Grain and livestock prices are mostly higher early in the session, except soybeans. Wheat is seeing a short covering bounce which seems to be helping corn, while soybeans are seeing profit taking the other way with lower meal and soybean oil a drag. Cattle continue to make new highs for the move on fund buying and higher cash trade ideas and hogs see similar action. Michelle Rook talks with Allison Thompson of The Money Farm.
Mostly Higher Grain and Livestock Prices Except Soybeans Early Tuesday
Grain and livestock prices are higher early, except soybeans. Grains see corrective action while funds buy in livestock with higher cash supportive. Michelle Rook talks with Allison Thompson of The Money Farm.
September 20, 2022 08:47 AM
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Grain markets crashed on Thursday with profit taking and fund liquidation tied to disappointment over the lack of agricultural purchase agreements during day one of the U.S. China summit.
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.
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