After a choppy session, grains end higher on weather forecast, Drought Monitor, WASDE positioning, the rally in soybean oil and technical buying in wheat. Cattle ended lower but did we confirm the key reversals and a top? Hogs continue to consolidate after the recent recovery with the lack of new buying and a bullish story. Dave Chatterton of Strategic Farm Marketing has analysis.
Grains End Higher on Weather Forecast, Drought Monitor, WASDE Positioning: Cattle End Lower But Rally May Not be Over
Grains end higher on weather forecast, Drought Monitor, WASDE positioning. Cattle markets lower but did we confirm a top? Hogs consolidate after the recent recovery. Dave Chatterton, Strategic Farm Marketing.
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The grain markets saw an ugly October with huge losses on fund selling. Brian Grete with CommStock Investments says he’s not sure if the fund selling is done.
Scott Varilek with Kooima Kooima Varilek says the cattle futures rally out of the report was disappointing and did not last long indicating a possible exhaustion on the charts.
Shawn Hackett of Hackett Financial Advisors says with wheat falling nearly $2 off the Sept. 2 contract highs, it isn’t a surprise that China and other buyers would see it as an opportunity to buy.
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