Grain markets lower on Tuesday on light preholiday volume. Demand concerns and China’s rising COVID cases caused light technical selling. Cattle saw profit taking pressure with hogs mixed. Michelle Rook with Randy Martinson of Martinson Ag.
Grains Lower with Technical Selling, Demand Woes, Holiday Trade: Cattle see Profit Taking, Hogs Mixed
Grains lower on light preholiday volume. Demand concerns & China’s rising COVID cases caused light technical selling. Cattle saw profit taking pressure with hogs mixed. Michelle Rook w/ Randy Martinson, Martinson Ag.
November 22, 2022 04:21 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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