Grains are mostly lower as markets consolidate after corn and beans hit chart resistance yesterday, a lack of fresh bullish news and USDA’s Ag Outlook numbers showing higher acres and lower price projections. Live cattle make more contract highs on the atypical BSE case in Brazil, hogs still plagued by increasing numbers. Jeff Hoogendoorn of Professional Ag Marketing has more.
Grains Mostly Lower Consolidating on Lack of Fresh News, USDA Projections: Higher Cattle with Atypical BSE Case in Brazil
Grains mostly lower with consolidation, a lack of fresh bullish news, USDA’s Ag Outlook numbers. Live cattle hit contract highs on the atypical BSE case. Jeff Hoogendoorn of Professional Ag Marketing has more.
February 23, 2023 11:35 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
Grab yer shovel: Hidden in five mason jars, a forgotten hoard of precious coins was discovered beneath a fieldstone wall.
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.
