Corn and wheat ended lower after the WASDE with technical selling and talk of an extension of the Ukraine export deal. Soybeans were able to shake off higher ending stocks in the report with fresh export business and higher soybean oil. Cattle saw following through selling on the lack of cash trade. Michelle Rook talks with Chip Nellinger Blue Reef Agri-Marketing.
Grains End Mixed After WASDE, Export News: Cattle Await Cash News
Corn, wheat lower after WASDE w/ technical selling and possible extension of export deal. Soybeans shook off higher ending stocks on export biz, higher BO. Michelle Rook w/Chip Nellinger Blue Reef Agri-Marketing.
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Dave Chatterton with Strategic Farm Marketing says funds have sold and liquidated hard the last three weeks in the corn market and while they took their foot off the gas on Monday he doesn’t think the selling is done.
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.
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