Grains are seeing corrective buying end of month and after running into chart resistance, plus a risk off in outside markets. Live cattle are also seeing profit taking after new contract highs, while hogs continue their recovery. Rich Nelson of Allendale has more.
Grains and Live Cattle Lower on Profit Taking End of Month and With Risk Off in Outside Markets: Hog Continue to Recover
Grains see corrective buying end of month, hit resistance, plus risk off in outside markets. Profit taking in LC after new contract highs, while hogs continue their recovery. Rich Nelson of Allendale has more.
January 31, 2023 09:00 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.
