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
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.
Garrett Toay with AgTraderTalk says the grains fell despite the sharply higher crude oil market but why now?
Read Next
Some of the easier entry points for corn and soybean farmers looking to capture higher returns can deliver $200 or more per acre.
