Grains 2-Sided Still Probing for Lows: Cattle Rally Pre-COF, While Hogs Struggle

Grains have all traded 2-sided with fund selling on a lack of bullish news, still searching for lows. Cattle stage impressive rally ahead of COF & cash news, hogs struggle. DuWayne Bosse, Bolt Marketing, has analysis.

Grains have all traded 2-sided with fund selling on a lack of bullish news, still searching for lows. Cattle stage impressive rally ahead of COF and cash news, hogs struggle. DuWayne Bosse, Bolt Marketing, has analysis.

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Live cattle futures were lower again on Wednesday and have spent several consecutive days under the 100-day moving average. Brad Kooima with Kooima Kooima Varilek says it is looking like more than a healthy correction.
Mark Knight of Farmers Keeper Financial says the market was looking for confirmation of China soybean purchases and now will need to see more sales to continue the rally.
November soybeans failed to close above the key $12 level and Naomi Blohm of Total Farm Marketing thinks the market may be running out of runway as Monday was mostly technical buying.
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