Soybeans higher with contract highs in meal, while wheat saw more technical selling with moisture in HRW areas KC closed below $8 and that held back corn. Cattle hit more contract highs in deferred with a push from cash. Hogs continue to struggle with swelling numbers. John Heinberg of Total Farm Marketing has more.
New Highs in Meal Supports Soybeans, Wheat Drags Down Corn: Cattle Continue to Make New Highs
Soybeans higher w/ contract highs in meal. Technical selling in wheat w/ moisture in HRW areas held back corn. Deferred cattle hit more contract high w/ strong cash. John Heinberg, Total Farm Marketing has more.
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Chip Nellinger of Blue Reef Agri-Marketing says the soybean complex saw technical selling with funds still holding a sizable long in soybeans and meal.
Joe Kooima of Kooima Kooima Varilek says the bounce in cattle isn’t unexpected as Friday’s selloff may have been overdone and with the financial markets seeing a recovery.
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.
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