Grains open lower with corn seeing harvest pressure and technical selling, while wheat is suffering Black Sea war fatigue and rain chances in winter wheat areas weigh on the market. Soybean caught between lower meal and higher soybean oil. Cattle had a chart breakout Monday but is the market going to make it through the next resistance area on the charts? Hogs get a push from technical buying and stronger fundamentals. Michelle Rook talks with Garrett Toay of AgTrader Talk.
Grains Lower on Technical Selling and Harvest Pressure: Livestock See More Fund Buying After Strong Close Monday
Grains open lower with harvest pressure and technical selling. Cattle and hogs see fund buying after strong chart action Monday and decent fundamentals. Michelle Rook talks with Garrett Toay of AgTrader Talk.
October 18, 2022 08:51 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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