Corn and soybeans strong early, shaking off the outside market negativity, but will it hold? Wheat sees some profit taking. Cattle also trying to hold together but with stock market jitters continue to cause fund and technical selling. Hogs seeing short covering early. Michelle Rook talks with Scott Varilek of Kooima Kooima Varilek.
Row Crops and Hogs Gain Early Shaking Off Outside Markets: Cattle see more Technical Selling, Profit Taking in Wheat
Row crops strong early shaking off the outside markets, but will it hold? When will the fund and technical selling end in livestock? Michelle Rook talks with Scott Varilek of Kooima Kooima Varilek.
September 29, 2022 08:52 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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