Grains open slightly lower on follow through selling then turn mixed, digesting export news and watching weather. However, all the grain markets are consolidating under Monday’s highs. So are the seasonal highs in? Rich Nelson of Allendale has the answer, plus cattle are mixed awaiting cash direction. However, hogs are under pressure with lower cutouts and fading a strong weekly export figure.
Grains Mixed Still Consolidating Under Monday’s Highs: Cattle Mixed Awaiting Cash, Hogs Lower with Softer Cutouts
Grains open slightly lower then turn mixed digesting export news and weather. Markets continue to consolidate, so are seasonal highs in? Rich Nelson of Allendale has the answer and a look at livestock.
February 16, 2023 09:15 AM
Related Stories
Chip Nellinger of Blue Reef Agri-Marketing says the soybean complex saw technical selling with funds still holding a sizable long in soybeans and meal.
Joe Kooima of Kooima Kooima Varilek says the bounce in cattle isn’t unexpected as Friday’s selloff may have been overdone and with the financial markets seeing a recovery.
The grain markets saw an ugly October with huge losses on fund selling. Brian Grete with CommStock Investments says he’s not sure if the fund selling is done.
Read Next
After watching farmers battle severe lodging this harvest, one agronomist believes a key solution lies in planting 20,000 to 30,000 fewer seeds per acre.
Commodity Market Futures
Futures prices on grains, livestock, oil and more
Farm Journal TV
Trusted ag insights and real stories from rural America. Start your free trial today.
Pro Farmer
Join Pro Farmer today to access trusted market intelligence and expert analysis that help you make more confident decisions.
