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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Shawn Hackett with Hackett Financial Advisors says the market was removing China premium after the disappointing summit as the market wanted more details on ag purchases.
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Grain markets crashed on Thursday with profit taking and fund liquidation tied to disappointment over the lack of agricultural purchase agreements during day one of the U.S. China summit.
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