Grains continue in the red with more fund selling and another China corn cancellation. July corn taking out $6, new lows in wheat. Cattle futures two sided still consolidating with limited cash news. Can hogs build on Wednesday’s strong close? Scott Varilek with Kooima Kooima Varilek has details.
Grains in the Red Again with Technical Selling, China Cancels Corn: Cattle Consolidate with Limited Cash News
Grains see more fund selling, on weather, China corn cancellation. Cattle futures consolidated with limited cash news. Can hogs build on Wed. strong close? More with Scott Varilek, Kooima Kooima Varilek.
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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.
Scott Varilek with Kooima Kooima Varilek says the cattle futures rally out of the report was disappointing and did not last long indicating a possible exhaustion on the charts.
Shawn Hackett of Hackett Financial Advisors says with wheat falling nearly $2 off the Sept. 2 contract highs, it isn’t a surprise that China and other buyers would see it as an opportunity to buy.
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