After early strength in the grains on more China SRW sales, corn and soybeans are lower, wheat mixed. Technical resistance has been hit in several markets and the plunge in crude oil is also created risk off selling. More fund pressure in cattle, while hogs have traded 2-sided after news Smithfield will end contracts with 26 hog farms in Utah. Mike Zuzulo, Global Commodity Analytics, has details.
Grains See Technical and Risk Off Selling as Crude Oil Plunges: More Fund Selling in Cattle with Weak Cash, Hogs 2-Sided
Corn & soybeans are lower, wheat mixed as many markets hit technical resistance & follow lower crude oil. More fund pressure in cattle, while hogs are 2-sided. Mike Zuzulo, Global Commodity Analytics, has details.
December 06, 2023 11:48 AM
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