Grains end with corn slightly higher and wheat off session lows. So, has the market absorbed the Black Sea Export Deal extension? Soybeans saw technical selling pressure with the sharp drop in bean oil and SA weather. Cattle higher on lower corn, $1-$2 higher cash trade and report positioning. Will LC take out the contract highs? Michelle Rook w/Matt Bennett, AgMarket.Net
Grains End Mixed, Has the Market Worked in Black Sea Export Deal? Cattle Follow Higher Cash
Corn ends slightly higher, wheat off lows, absorbing the Black Sea Export Deal extension. Soybeans saw technical selling pressure w/lower BO. Cattle strong w/higher cash. Michelle Rook w/Matt Bennett, AgMarket.Net
November 17, 2022 02:13 PM
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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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