Thursday was a lower day in the grains, but soybeans took the biggest hit with the implosion in soybean oil after disappointment in the RFS volumes from EPA. Disappointing exports also added to the technical selling. John Payne of Hedge Point Global Markets has details.
AgDay TV Markets Now: John Payne Talks About Thursday’s Selloff in Grains and Implosion in Bean Oil
Grains lower, with soybeans hit hard following an implosion in soybean oil after EPA released the RFS volumes. Slow exports added to the technical selling. John Payne of Hedge Point Global Markets has details.
December 01, 2022 04:44 PM
Related Stories
Joe Kooima of Kooima Kooima Varilek says the gap lower opening in cattle futures Monday in response to the border reopening to Mexican imports was volatile. They anticipate more to come to price in the news, even after a $25 to $30 break in the futures recently.
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.
Read Next
Joel Gross contends a retaliatory hammer dropped on his operation, costing him hundreds of thousands of dollars.
Commodity Market Futures
Futures prices on grains, livestock, oil and more
Farm Journal TV
Trusted ag insights and real stories from rural America. Start your free trial today.
Pro Farmer
Join Pro Farmer today to access trusted market intelligence and expert analysis that help you make more confident decisions.
