Grains see technical selling continue on macroeconomic fears as corn takes out chart support and soybeans fade 4.6 mb of China biz. Cattle and hogs oversold and are trying to consolidate but can they stage a bigger recovery? Mike Minor, Professional Ag Marketing has more.
More Technical Selling in Grains on Macro Fears: Cattle and Hogs See Oversold Technical Bounce
Grains see more technical selling on macroeconomic fears as soybeans fade 4.6 mb of China biz. Cattle and hogs oversold and try to consolidate. Mike Minor, Professional Ag Marketing has more.
October 25, 2023 11:28 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.
The grain markets were sharply lower Thursday morning with soybeans seeing 30-cent losses on disappointment the China summit has not produced any agricultural purchase agreements.
Sam Hudson with Cornbelt Marketing says corn and soybeans were firmer on inflationary buying and optimism regarding the China summit. Cattle soared with higher cash.
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