A risk off day in outside markets including a higher dollar, has triggered fund selling in the ag markets, Weekly grain exports were also disappointing. Nov soybeans have taken out the 100-day MA. Cattle and hogs are also seeing profit taking after the higher day Thursday with cattle waiting for more cash news and the Cattle on Feed Report. Tomm Pfitzenmaier, Summit Commodity Brokerage, has more.
Grain and Livestock Fall with a Risk Off Day in Outside Markets: Soybeans Take Out Key Support
A risk off day in outside markets has funds selling in the ag markets, plus weekly exports were poor. Livestock see profit taking, as cattle await cash. Tomm Pfitzenmaier, Summit Commodity Brokerage, has more.
September 21, 2023 09:21 AM
Related Stories
Garrett Toay with AgTraderTalk says after the big rally to start the week the grain markets saw some profit taking and corrective selling.
DuWayne Bosse of Bolt Marketing says the wheat market was trying to extend gains early Thursday but may be getting close to pricing the Black Sea export disruptions in.
Oliver Sloup Blue Line Futures, says wheat prices skyrocketed adding risk premium on concerns about the escalating Black Sea war and the disruptions it is causing in the export market. It could have more upside left.
Read Next
New state restrictions and a proposed AFIDA overhaul could reshape land deals, reporting, and due diligence for farmers.
Commodity Market Futures
Futures prices on grains, livestock, oil and more
Farm Journal TV
Trusted ag insights and real stories from rural America. Start your free trial today.
Pro Farmer
Join Pro Farmer today to access trusted market intelligence and expert analysis that help you make more confident decisions.
