Grains all lower with corn making new contract lows on technical selling and lack of positive news, soybeans still eye Brazil rain chances. Cattle sees fund buying with lower corn but is into chart resistance, hogs wait for cash to bottom. Garrett Toay, AgTraderTalk, has analysis.
Corn Hits New Contract Lows, Soybeans, Wheat and Hogs Also Slide Lower: Cattle Bounce
Grains lower on technical selling with the lack of positive news. Corn scores new contract lows, soybeans still eye Brazil rain chances. Cattle sees fund buying with lower corn. Garrett Toay, AgTraderTalk, has more.
December 20, 2023 02:14 PM
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Rich Nelson, chief strategist for Allendale says row crops are pausing right now until the weather story is really decided, while wheat is concerned about rising tensions in the Black Sea region.
Kevin Duling with KD Investors says corn and soybeans eased with a 1% improvement in ratings, while the weather is moderating.
Dave Chatterton with Strategic Farm Marketing says the market initially traded the heat for this week which is unwelcome for corn during pollination time.
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