Wheat gaps higher on the open putting Black Sea war premium in, pulls corn and beans up. Hogs extend rally from last week, with more fund selling in cattle and pressure from higher corn. Michelle Rook has details with DuWayne Bosse of Bolt Marketing.
Wheat Gaps Higher on Open Adding War Premium Pulls up Grains: Cattle React and See Fund Selling, While Hogs Extend Rally
Wheat gaps higher on the open putting war premium in, pulls corn and beans up. That pressures cattle, while hogs extend rally from last week. Michelle Rook has details with DuWayne Bosse of Bolt Marketing.
October 10, 2022 08:56 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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