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
Related Stories
The grain markets saw an ugly October with huge losses on fund selling. Brian Grete with CommStock Investments says he’s not sure if the fund selling is done.
Scott Varilek with Kooima Kooima Varilek says the cattle futures rally out of the report was disappointing and did not last long indicating a possible exhaustion on the charts.
Shawn Hackett of Hackett Financial Advisors says with wheat falling nearly $2 off the Sept. 2 contract highs, it isn’t a surprise that China and other buyers would see it as an opportunity to buy.
Read Next
After more than a decade of field trials, Eric Miller has found that the highest corn yields don’t necessarily maximize ROI. His work offers insights for other growers looking to improve nutrient efficiencies and protect margins.
Commodity Market Futures
Futures prices on grains, livestock, oil and more
Farm Journal TV
Trusted ag insights and real stories from rural America. Start your free trial today.
Pro Farmer
Join Pro Farmer today to access trusted market intelligence and expert analysis that help you make more confident decisions.
