Markets Mostly Lower on Fund Liquidation, Economic and China COVID Concerns

Grains open mostly lower with more fund liquidation, economic and China COVID concerns, will chart support areas hold? Cattle see profit taking and hogs more technical selling. Rich Nelson of Allendale has details.

Grains open mostly lower except wheat, with more fund liquidation, economic and COVID concerns in China, will chart support areas hold? Cattle see profit taking and hogs more technical selling with China demand concerns and lower cash. Rich Nelson of Allendale has details.

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Shawn Hackett with Hackett Financial Advisors says the market was removing China premium after the disappointing summit as the market wanted more details on ag purchases.
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Grain markets crashed on Thursday with profit taking and fund liquidation tied to disappointment over the lack of agricultural purchase agreements during day one of the U.S. China summit.
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