Corn sees harvest pressure and makes a new low close, with soybeans higher on China talk and lower Brazilian estimates. Wheat sees a short covering bounce. Cattle fill the chart gap and close above it with help from the rally in the equities, but can they keep rallying? Hogs also impressively close above chart resistance. Alan Brugler, Brugler Marketing, covers it all!
Higher Closes, Except Corn Scores a New Low Close: Soybeans Up on China Hopes, Brazil Crop, Impressive Day in Livestock
Corn scores a new low close, with soybeans higher on China talk and lower Brazilian estimates. Wheat sees short coveriing. Cattle close the chart gap with higher equities. Alan Brugler, Brugler Marketing, has more.
November 02, 2023 02:36 PM
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Sam Hudson of Cornbelt Marketing says soybeans bounced as harvest pressure is subsiding and that should allow a bottom to be forged, especially with China buying.
Mark Schultz of North Star Commodity says the grain markets are oversold and due for a correction.
Naomi Blohm with Total Farm Marketing says the technical action is feeling like the market is probing for a low.
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