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
Sam Hudson of Corn Belt Marketing says funds sold the early bounce in grain markets with no bullish story.
After a down day on Tuesday the grain markets were higher early Wednesday a result of short covering according to Lane Akre, economist with Pro Farmer. However, he thinks the market has also taken out too much weather premium.
Dan Basse, president of Ag Resource Company, believes China bought a half million tons of U.S. soybeans last week.
Read Next
The Feikemas use cattle and hog waste to fuel 7,000 crop acres, eliminate insecticides and even guide land purchase decisions.
