Monday’s markets were mostly higher except for soybeans. Grains saw a technical correction, while cattle faded the bearish Cattle on Feed Report and hogs continue their technical and seasonal run higher. Michelle Rook talked with Pro Farmer’s Brian Grete to dive into the details.
Monday Markets Mostly Green
Monday’s markets were mostly higher except for soybeans. Grains saw a technical correction, while cattle faded the bearish Cattle on Feed Report and hogs continue their technical and seasonal run higher.
May 23, 2022 03:45 PM
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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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