Massive fund selling continues to push the grains lower with new contract lows in wheat and corn breaking chart support. Prices have lost a lot of ground the last couple of weeks, but are they getting close to a bottom? Cattle see some buying support from strong beef values, but still waiting for more cash direction. Hogs are struggling despite a marketing year high for exports and a strong technical close Wed. Mark Schultz of Northstar Commodity has details.
Massive Fund Selling Pushes Corn Through Support, Wheat to Contract Lows: Cattle Firm with Strong Beef but Eyes Cash
Massive fund selling pushing grains lower, but are they getting close to a bottom? Cattle firm with strong beef prices, but waiting for more cash direction. Hogs are struggling. Mark Schultz, Northstar Commodity.
April 27, 2023 11:45 AM
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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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