Markets close mostly lower Tuesday with technical selling in the grains and positioning ahead of the WASDE, fading export biz. Lower crude oil also weighed on corn and soybean oil. Livestock consolidated in an inside day. Michelle Rook is joined by Garrett Toay of AgTraderTalk
Mostly Lower Closes with Technical Selling and Report Positioning in Grains: Livestock Consolidate in an Inside Day
Markets close mostly lower w/ technical selling in the grains, report positioning and fading export biz. Livestock consolidated in an inside day. Michelle Rook is joined by Garrett Toay of AgTraderTalk.
November 08, 2022 02:00 PM
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Dave Chatterton with Strategic Farm Marketing says funds have sold and liquidated hard the last three weeks in the corn market and while they took their foot off the gas on Monday he doesn’t think the selling is done.
Grain markets all made new lows for the move on additional fund long liquidation says Randy Martinson with Martinson Ag Risk Management.
Mark Knight with Farmers Keeper Financial says the funds are exiting as the grains have divorced from the crude oil market and are trading weather.
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