Corn makes new lows and then bounces but is there more downside risk? Soybeans do technical damage with fund liquidation and wheat also slides. Cattle end lower after making new highs this week on profit taking, hedge pressure and positioning ahead of the Fed meeting. Hogs bounce but are still in a sideways chart pattern. Oliver Sloup, Blue Line Futures has details.
Corn Recovers Off News Lows, Soybeans See Fund Liquidation: Live Cattle Make News Highs Then Retreat
Grains end mixed with corn bouncing after new lows but soybeans do technical damage. Cattle lower on profit taking after contract highs. Hogs bounce but are rangebound. Oliver Sloup, Blue Line Futures has more.
September 19, 2023 02:29 PM
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Dan Basse, president of Ag Resource Company, says he thinks the soybean market put in a bottom earlier in the week.
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Sam Hudson of Cornbelt Marketing says soybeans bounced as harvest pressure is subsiding and that should allow a bottom to be forged, especially with China buying.
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