Corn and soybeans lost early gains on technical selling and bearish outside markets, despite decent export news. Wheat saw short covering but held gains even though news on Ukraine shutting the export corridor was refuted. Cattle saw more fund liquidation on the plunge in equities, with follow through short covering in hogs. Garrett Toay, AgTraderTalk, has details.
Corn and Beans Lower on Risk Off Technical Selling, Wheat Holds Gains: Funds Still Liquidating in Cattle
Corn and soybeans lost early gains on technical selling and bearish outside markets. Wheat saw short covering. Cattle saw more fund liquidation, with more short covering in hogs. Garrett Toay, AgTraderTalk, has more.
October 26, 2023 04:12 PM
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Grain markets all made new lows for the move on additional fund long liquidation says Randy Martinson with Martinson Ag Risk Management.
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Garrett Toay with AgTraderTalk says the grains fell despite the sharply higher crude oil market but why now?
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