Grains set back on better rains chances in the forecast and after hitting major chart resistance Tuesday. Is the rally justified? Cattle consolidate awaiting cash but will it keep correcting? Hogs are up but how much more upside is left? Matt Bennett of AgMarket.Net tackles all those questions.
Matt Bennett Says Grains Fall on Improved Forecast and After Hitting Major Chart Resistance: Cattle Consolidate, While Hogs Rally
Grains set back on better rains chances in the forecast and after hitting resistance. Will cattle markets keep correcting? Hogs are up but how much more upside is left? Matt Bennett, AgMarket.Net has details.
Related Stories
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.
Darin Newsom, senior market analyst with Barchart, says the funds set the direction of the trend the problem is they have skewed the markets to the point that the real fundamentals in agriculture don’t really matter.
Read Next
With the lame-duck session looming, lawmakers scramble to mend a divided Ag Committee over SNAP funding as insiders predict another extension.
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.
