Grain and livestock markets melted down on Tuesday with a risk off day due to end of the month profit taking and more movement on Russia allowing Ukrainian exports. Michelle Rook talked about the slide with John Heinberg of Total Farm Marketing.
Markets Melt Down on Tuesday
Grain and livestock markets melted down on Tuesday.
June 01, 2022 08:45 AM
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Chip Nellinger with Blue Reef Agri-Marketing says grains saw profit taking heading into a long weekend, which is not unexpected. However, he thinks the market has more work to do.
Scott Varilek with Kooima Kooima Varilek says the cattle market is very oversold and due for a bounce but the long term charts have been damaged.
Rich Nelson with Allendale says the corn and wheat markets saw profit taking but also latched on to Black Sea headlines indicating Russian President Putin was open to a peace deal with Ukraine.
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