Grains remain lower with more technical selling, extension of Black Sea Export Deal and risk off outside markets. Cattle firmer with lower corn and report positioning, plus $1 higher cash in the South. Hogs firming on more technical buying. Michelle Rook w/John Heinberg of Total Farm Marketing.
Grains Lower on Technical Selling, Black Sea Export Deal Renewal: Cattle Higher with Lower Corn, Higher Cash
Grains see more technical selling, extension of Black Sea Export Deal and risk off outside markets. Cattle firmer with lower corn and higher cash. Michelle Rook w/John Heinberg, Total Farm Marketing.
November 17, 2022 12:02 PM
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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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