AgDay TV Markets Now: Mike Zuzulo, Global Commodity Analytics, discusses why funds sold grains to end the week but bought cattle and hogs futures.
AgDay TV Markets Now: Mike Zuzulo Discusses Why Funds are Selling Grains and Buying Livestock
AgDay TV Markets Now: Mike Zuzulo, Global Commodity Analytics, discusses why funds sold grains to end the week but bought cattle and hogs futures.
January 26, 2024 08:26 PM
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DuWayne Bosse of Bolt Marketing says the managed money traders have hit the sell button with charts taking out key support and they may not stop until harvest reaches 60% to 70% done.
Jon Scheve of Scheve Grain says corn will have a difficult time finding a bottom until harvest pushes past 70%. After that the $8 billion of diesel aid will provide a bridge to help farmers store and wait for better prices.
Arlan Suderman of StoneX says corn and soybean charts have seen damage which triggers algorithmic selling and the end users are content to let the market come to them.
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