Corn, soybeans and cotton under pressure with rising COVID cases in China, lower crude oil and the higher dollar. Wheat saw a technical bounce. Live cattle end lower except December with ideas of higher cash offset by technical selling and lower cutouts. Hogs got a boost from China export hopes. Michelle Rook gets insight from Darren Frye Water Street Solutions.
Corn, Soybeans Lower with COVID Cases in China, Lower CO, Wheat Sees Technical Bounce: More Technical Selling in Live Cattle
Corn, soybeans lower w/rising COVID cases in China, lower CO and a strong dollar. Wheat sees a technical bounce. Live cattle lower on technical selling. Michelle Rook w/ Darren Frye Water Street Solutions.
November 15, 2022 06:40 AM
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Dave Chatterton with Strategic Farm Marketing says funds have sold and liquidated hard the last three weeks in the corn market and while they took their foot off the gas on Monday he doesn’t think the selling is done.
Grain markets all made new lows for the move on additional fund long liquidation says Randy Martinson with Martinson Ag Risk Management.
Mark Knight with Farmers Keeper Financial says the funds are exiting as the grains have divorced from the crude oil market and are trading weather.
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