Grains see fund and technical selling with risk off macroeconomic concerns spilling over from outside markets, plus a lack of bullish news beyond a soybean sale to China. Weather also played a role especially in wheat. Cattle see a technical bounce as the market was oversold and may have digested the COF news, hogs also bounced off contract lows. Matt Bennett with AgMarket.Net has more.
Grains See Risk Off Fund Selling with Lack of Bullish News: Livestock See Oversold Technical Bounce
Grains see fund selling with risk off in outside markets, plus a lack of bullish news beyond a soybean sale to China. Cattle and hogs see an oversold technical bounce. Matt Bennett, AgMarket.Net,has more.
October 25, 2023 02:37 PM
Related Stories
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.
Garrett Toay with AgTraderTalk says the grains fell despite the sharply higher crude oil market but why now?
Read Next
The change implements provisions in the One Big Beautiful Bill Act and updates long-standing Farm Service Agency rules that had capped many entity-based operations at a single payment limit.
