After early pressure in the grains with the risk off outside markets, soybean prices are trying to rebound. Beans got help from export business to China and higher meal. Wheat reacts early to higher dollar and technicals and sells off pulling corn with it. Cattle prices are mostly higher with help from higher cash ideas, while hogs are mixed. Michelle Rook has analysis with Ted Seifried of Zaner Ag Hedge.
Soybean Prices Try to Rebound on China Buying but Wheat Pressured by Dollar Early and Pulls Down Corn: Livestock Mostly Higher
Soybean prices rebound on China export biz. Wheat lower on higher dollar and technicals, pulling down corn. Cattle prices mostly higher on higher cash ideas. Michelle Rook talks with Ted Seifried of Zaner Ag Hedge.
September 19, 2022 11:30 AM
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Brian Grete with Commstock Investments says, “We’ve seen China come in and be a fairly active buyer over the past several weeks here of new crop U.S. soybeans. There was more talk of that on Friday. And so that gave us some price support.”
Scott Varilek with Kooima Kooima Varilek says the live cattle futures made new lows for the move Thursday before finding support and putting in key reversals.
Garrett Toay with AgTraderTalk says after the big rally to start the week the grain markets saw some profit taking and corrective selling.
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