Corn and Wheat Recover with Soybeans Down on Brazil Rain Chances: Livestock Fall with Lower Cash, Technical Selling

Corn and wheat rebound on corrective buying, but soybeans and meal still lower with Brazil rain chances. Cattle see more fund selling w/lower cash and hogs follow. Vince Boddicker, Farmers Trading Company, has more.

Corn and wheat rebound on corrective buying, but soybeans and meal still lower with Brazil rain chances. Cattle and hogs both see more fund selling with higher weights, lower cash. Vince Boddicker, Farmers Trading Company, has more.

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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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