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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Sam Hudson of Corn Belt Marketing says funds sold the early bounce in grain markets with no bullish story.
After a down day on Tuesday the grain markets were higher early Wednesday a result of short covering according to Lane Akre, economist with Pro Farmer. However, he thinks the market has also taken out too much weather premium.
Dan Basse, president of Ag Resource Company, believes China bought a half million tons of U.S. soybeans last week.
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