Corn and Wheat Bounce, While Brazil Rain Sinks Soybeans: Cattle Cautious Pre-COF

Corn & wheat see corrective buying. Soybean slide on Brazil rain. Cattle consolidate pre-COF, despite better cash. Hogs saw bull spreading on strong exports. Jeff Hoogendoorn, Professional Ag Marketing, has details.

Corn and wheat see corrective buying. Soybean slide with improved Brazil weather despite lower estimates. Cattle consolidated with caution ahead of the COF report, despite some higher Northern cash trade. Hogs saw bull spreading with strong weekly exports, awaiting the Hogs and Pigs data. Jeff Hoogendoorn, with Professional Ag Marketing, has details.

AgWeb-Logo crop
Related Stories
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.
DuWayne Bosse of Bolt Marketing says the managed money traders have hit the sell button with charts taking out key support and they may not stop until harvest reaches 60% to 70% done.
Read Next
Josh Linville says tight nitrogen supplies, rising demand and global disruptions to sulfur supplies are keeping pressure on fertilizer markets, even if tensions in the Strait of Hormuz ease.
Get News Daily
Get Market Alerts
Get News & Markets App