Corn and Wheat Bounce on Short Covering, Profit Taking in Beans with Lower Bean Oil: Cattle Up for Third Day

Turn around Tuesday so wheat and corn were higher on corrective buying. Soybeans saw profit taking with lower bean oil also a drag. Cattle up for the third day, so it a bottom in? Arlan Suderman, StoneX, has more.

Turn around Tuesday so wheat and corn were higher on corrective buying. Soybeans saw profit taking lower bean oil was also a drag following 5-month lows in crude oil. Cattle up for the third day, so it a bottom in? Arlan Suderman, StoneX, has analysis.

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Mark Schultz of North Star Commodity says the grain markets are oversold and due for a correction.
Naomi Blohm with Total Farm Marketing says the technical action is feeling like the market is probing for a low.
Brad Kooima with Kooima Kooima Varilek says the charts look positive but he thinks a healthy correction is in store. He’s also skeptical about USDA’s new cash report.
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