Corn and wheat under pressure with more fund selling taking out support on demand concerns, but weather and lower crude oil are also factors. However, Russia could be the wild card. Soybeans see a corrective bounce. Cattle and hogs trade 2-sided, but have seen some technical selling watching cash and debt ceiling discussions. Jim McCormick with AgMarket.Net has details.
Corn, Wheat See More Fund Selling, Corrective Bounce in Soybeans: Cattle and Hogs 2-Sided
Corn and wheat under pressure with more fund selling taking out support. Soybeans see a corrective bounce. Cattle and hogs see more technical selling watching cash. Jim McCormick with AgMarket.Net.
April 26, 2023 11:49 AM
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Brian Grete with Commstock Investments says, “We’ve seen China come in and be a fairly active buyer over the past several weeks here of new crop U.S. soybeans. There was more talk of that on Friday. And so that gave us some price support.”
Scott Varilek with Kooima Kooima Varilek says the live cattle futures made new lows for the move Thursday before finding support and putting in key reversals.
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