Grains lower this morning seeing profit taking and technical selling after a disappointing close yesterday in corn and wheat, and with caution ahead of the Fed announcement today. Moisture is the Plains and Corn Belt is also a factor. Livestock are trading mixed consolidating after a higher day yesterday and with new contract highs in deferred live cattle. Michelle Rook has details.
Grains See Technical Selling Early, Ahead of Fed Announcement: Livestock Consolidating
Early pressure in grains with technical selling ahead of the Fed announcement. Livestock consolidate after the higher day Tuesday. Michelle Rook has details.
December 14, 2022 11:25 AM
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Dave Chatterton with Strategic Farm Marketing says funds have sold and liquidated hard the last three weeks in the corn market and while they took their foot off the gas on Monday he doesn’t think the selling is done.
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.
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