Corn and wheat down with lower oil and the higher dollar, but soybeans rebound with export biz and higher meal. Cash basis levels strong west and south, weaker east. What does this mean for grain and livestock producers? @michellerookag w/@FarmersKeeper
Corn and Beans Lower With Higher Dollar, Soybeans Rebound with Export Biz: Cash Basis Levels Hot in West and South
Corn and wheat down with lower oil and the higher dollar, but soybeans rebound with export biz and higher meal. Cash basis levels strong west and south, weaker east. @michellerookag w/@FarmersKeeper
October 28, 2022 11:31 AM
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Scott Varilek with Kooima Kooima Varilek says the outside market news has been a factor in cattle but the main catalyst for the selling has been sharply lower cash trade which started breaking early in the week.
Bryan Doherty with Total Farm Marketing says speculative selling is a common theme in the commodity markets.
Chip Nellinger of Blue Reef Agri-Marketing says the soybean complex saw technical selling with funds still holding a sizable long in soybeans and meal.
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