Corn Makes Contract Low, Soybeans, Wheat and Hogs Also See Pressure: Cattle Follow Cash Higher

Grains sink, contract lows in corn on risk off fund selling on Red Sea shipping concerns, Brazil wx, & farmer selling. Hogs slide to new lows, with cattle following cash higher. Kent Beadle, Paradigm Futures, has more.

Grains sink, contract lows in corn on risk off fund selling on Red Sea shipping concerns, Brazil wx, & farmer selling. Hogs slide to new lows, with cattle following cash higher. Kent Beadle, Paradigm Futures, has more.

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Grain markets were lower on Wednesday and to start Thursday, seeing profit taking after hitting key chart resistance and with cooler, wetter extended weather forecast for the Midwest. That’s according to Randy Martinson with Martinson Ag.
Live cattle futures were lower again on Wednesday and have spent several consecutive days under the 100-day moving average. Brad Kooima with Kooima Kooima Varilek says it is looking like more than a healthy correction.
Mark Knight of Farmers Keeper Financial says the market was looking for confirmation of China soybean purchases and now will need to see more sales to continue the rally.
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