Corn and Wheat See More Short Covering, Profit Taking on Brazil Rain Chances Hit Soybeans: Livestock Fall With Cash and Higher Weights

Corn and wheat higher short covering. Profit taking hit soybeans and meal on rain chances in Brazil. Cattle and hogs see selling with lower cash and higher weights. Mike Minor, Professional Ag Marketing has more.

Corn and wheat close higher Friday and for the week on short covering, so can the market build on it? Profit taking hit soybeans and meal on rain chances in Brazil. Cattle and hogs see selling with lower cash and higher weights. Mike Minor, Professional Ag Marketing 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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