Corn and beans under pressure on more fund liquidation and technical selling as we took out long term chart support, but option expiration and weather are also factors. Wheat slightly higher with rains missing some key HRW areas. Cash basis levels remain firm with tight supplies and bull spreading but how long will that continue and what will flooding on the MS River means for basis? Nick Tsiolis, Farmers Keeper has details.
Corn and Beans See Technical Selling with Weather, Option Expiration Bearish: Cash Basis Levels Firm but For How Long?
Corn, beans see technical selling breaching major support, option expiration, weather also factors. Cash basis firm but how long will that continue, how will MI River flooding effect it? Nick Tsiolis, Farmers Keeper.
April 22, 2023 02:50 PM
Related Stories
The grain markets saw an ugly October with huge losses on fund selling. Brian Grete with CommStock Investments says he’s not sure if the fund selling is done.
Scott Varilek with Kooima Kooima Varilek says the cattle futures rally out of the report was disappointing and did not last long indicating a possible exhaustion on the charts.
Shawn Hackett of Hackett Financial Advisors says with wheat falling nearly $2 off the Sept. 2 contract highs, it isn’t a surprise that China and other buyers would see it as an opportunity to buy.
Read Next
After more than a decade of field trials, Eric Miller has found that the highest corn yields don’t necessarily maximize ROI. His work offers insights for other growers looking to improve nutrient efficiencies and protect margins.
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.
