Funds Sells in Grains with China Cancellation, Black Sea Grain Deal, HRW Trades Tour Results

Grains are mostly lower with fund selling on the China cancellation, Black Sea Grain deal. Wheat trades tour results. Livestock mostly lower in consolidation mode. Allison Thompson with The Money Farm has more.

Grains are mostly lower with fund selling continuing and the 10.7 mb old crop corn cancellation by China and the Black Sea Grain deal is extended another 60 days. KC wheat trades the Kansas Wheat Tour results. Livestock are mostly lower in consolidation mode, except feeders which are making new highs in the deferreds. Allison Thompson with The Money Farm has more.

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The grain markets saw an ugly October with huge losses on fund selling. Brian Grete with CommStock Investments says he’s not sure if the fund selling is done.

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Shawn Hackett of Hackett Financial Advisors says with wheat falling nearly $2 off the Sept. 2 contract highs, it isn’t a surprise that China and other buyers would see it as an opportunity to buy.
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