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Grain and livestock markets closed mixed Wednesday. Rich Nelson of Allendale says corn and soybeans showed resilience rallying into the close on technical buying and strong demand. The markets saw more flash export sales and weekly exports on Thursday are likely to be strong, plus ethanol production was robust. However, is the export activity front loading ahead of the elections? Wheat tried to follow corn and soybeans but struggled with a higher dollar. Cattle made new for the move highs and then sold off on the McDonald's e.coli story, lower stock market and running into chart resistance. Hogs also made 1 year highs and Nelson says six weeks of lower than expected slaughter numbers are supporting smaller supplies and boosting the market.
See omnystudio.com/listener for privacy information.
By Michelle RookGrain and livestock markets closed mixed Wednesday. Rich Nelson of Allendale says corn and soybeans showed resilience rallying into the close on technical buying and strong demand. The markets saw more flash export sales and weekly exports on Thursday are likely to be strong, plus ethanol production was robust. However, is the export activity front loading ahead of the elections? Wheat tried to follow corn and soybeans but struggled with a higher dollar. Cattle made new for the move highs and then sold off on the McDonald's e.coli story, lower stock market and running into chart resistance. Hogs also made 1 year highs and Nelson says six weeks of lower than expected slaughter numbers are supporting smaller supplies and boosting the market.
See omnystudio.com/listener for privacy information.

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