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
Related Stories
Corn and soybeans were lower on Thursday seeing further consolidation after hitting chart resistance and with the WASDE on Friday.
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.
Read Next
Under a 10-year settlement, farmers gain the same capabilities as dealers to reset fault codes, pair electronic components and bypass emissions-related shutdowns.
Commodity Market Futures
Futures prices on grains, livestock, oil and more
Farm Journal TV
Trusted ag insights and real stories from rural America. Start your free trial today.
Pro Farmer
Join Pro Farmer today to access trusted market intelligence and expert analysis that help you make more confident decisions.
