Cattle again see fund selling on early strength and sloppy cash, hogs on the long side of cattle/hog spreads. Soybeans see profit taking with Brazil rains, while corn is up with a 5 mb sale to unknown and following wheat which saw a 4 mb SRW sale to China. Scott Varilek, Kooima Kooima Varilek, has details.
Funds Continue Selling Cattle with Sloppy Cash: Profit Taking in Soybeans with Brazil Rain, Corn Sees Export Biz
Cattle again see fund selling on early strength & sloppy cash, hogs up on cattle/hog spreads. Soybeans see profit taking w/Brazil rain, corn is up with a 5 mb export sale. Scott Varilek, Kooima Kooima Varilek, has more.
November 22, 2023 09:20 AM
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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.
Mark Schultz of North Star Commodity says the grain markets are oversold and due for a correction.
Naomi Blohm with Total Farm Marketing says the technical action is feeling like the market is probing for a low.
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