Grains end lower in reaction to a bearish WASDE Report and fading big soybean export sales. Corn took out the September lows so how low will the market go? And can soybeans stay down with SA weather issues? Cattle see massive fund liquidation amid lower cash at $180-mostly $181 in the south down $4, and Northern trade $181/$287 down $5. While hogs end mixed. Don Roose, U.S. Commodities, has details.
Grains Lower on Bearish Report and Fade Big Soybean Export Sales: Cattle Melt on Fund Selling, Lower Cash
Grains lower after a bearish WASDE Report, fading big soybean export sales but still respecting SA weather. Cattle see massive fund liquidation amid lower cash, hogs mixed. Don Roose, U.S. Commodities, has details.
November 09, 2023 03:01 PM
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Sam Hudson of Cornbelt Marketing says soybeans bounced as harvest pressure is subsiding and that should allow a bottom to be forged, especially with China buying.
Mark Schultz of North Star Commodity says the grain markets are oversold and due for a correction.
Naomi Blohm with Total Farm Marketing says the technical action is feeling like the market is probing for a low.
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