Grains give up early gains on China sales with risk off selling tied to the plunge in crude oil below $70, plus profit taking and farmer selling in corn and wheat after hitting chart resistance. Cattle make more contract lows with fund selling and lower cash at $171/$271-$272, hogs end mixed. Mark Schultz, Northstar Commodity, has analysis.
Grains End Mostly Lower on Profit Taking and Risk Off Selling: Cattle Make Contract Lows with Lower Cash
Grains see risk off selling following crude oil & profit taking & farmer selling in corn & wheat. Cattle make more contract lows with fund selling and lower cash, hogs mixed. Mark Schultz, Northstar Commodity, has more.
December 06, 2023 02:29 PM
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
The change implements provisions in the One Big Beautiful Bill Act and updates long-standing Farm Service Agency rules that had capped many entity-based operations at a single payment limit.
