Grains Lean Lower on Technical Selling, Weather, Fed Move: Cattle and Hogs See More Profit Taking

Grains lean lower on technical selling & weather, what will it take to retest Tuesday’s highs? The Fed pauses, says more hikes coming. And profit taking in cattle and hogs. Chuck Shelby, Risk Management Commodities.

Grains end mostly lower on technical selling and weather, what will it take to retest Tuesday’s highs? The Fed takes a pause but indicates more rate hikes coming. And profit taking and spreading continued in cattle and hogs. Chuck Shelby, Risk Management Commodities has details.

AgWeb-Logo crop
Related Stories

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.
Darin Newsom, senior market analyst with Barchart, says the funds set the direction of the trend the problem is they have skewed the markets to the point that the real fundamentals in agriculture don’t really matter.
Read Next
With the lame-duck session looming, lawmakers scramble to mend a divided Ag Committee over SNAP funding as insiders predict another extension.
Get News Daily
Get Market Alerts
Get News & Markets App