Cattle 2-sided, still consolidating but hitting chart resistance. Hogs are still holding gains for the 5th day but are also at resistance areas on the charts. Soybeans follow meal with Mexican export biz and corn follows. Both are seeing corrective buying, watching SA weather and planting progress. Jeff Hoogendoorn, Professional Ag Marketing, has details.
Cattle 2-Sided Hitting Chart Resistance, Hogs Hold Gains: Row Crops See Corrective Buying & Follow Meal, CO
Cattle 2-sided still consolidating but hit chart resistance. Hogs holding gains for 5th day. Soybeans follow meal with export biz and corn follows. Jeff Hoogendoorn, Professional Ag Marketing, has details.
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Scott Varilek with Kooima Kooima Varilek says the live cattle were overbought after rallying $21 off the lows.
Sam Hudson of Cornbelt Marketing says soybeans bounced as harvest pressure is subsiding and that should allow a bottom to be forged, especially with China buying.
Mark Schultz of North Star Commodity says the grain markets are oversold and due for a correction.
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