Grains continue to be mostly lower on fund liquidation, harvest pressure, rain changes in the South Plains and demand concerns. Yet grains are still rangebound. Livestock futures continue to see technical buying and strong fundamentals but how far will those markets extend? Michelle Rook talks with Steve Freed ADM Investor Services.
Grains Lean Lower on Technical Selling, Harvest Pressure, Demand Concerns: Livestock See Fund Buying with Strong Fundamentals
Grains mostly lower on technical selling and demand/export concerns but still rangebound. Livestock up with technical buying and strong fundamentals. Michelle Rook talks with Steve Freed ADM Investor Services.
October 19, 2022 11:26 AM
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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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