Corn lower on harvest pressure with a new low close. Soybeans and wheat saw technical buying and spread trade, amid a lack of news besides the FOMC meeting where rates were unchanged. Cattle were higher but are into chart resistance with profit taking in hogs. Ted Seifried, Zaner Ag Hedge, has more.
New Low Close in Corn, but Soybeans and Wheat See Technical Buying: Cattle Still Consolidating, with Profit Taking in Hogs
Corn sees harvest pressure with technical buying in soybeans and wheat amid a lack of news besides the FOMC decision. Cattle higher but into resistance, profit taking in hogs. Ted Seifried, Zaner Ag Hedge, has more.
November 01, 2023 03:07 PM
Related Stories
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.
Garrett Toay with AgTraderTalk says the grains fell despite the sharply higher crude oil market but why now?
Read Next
The change implements provisions in the One Big Beautiful Bill Act and updates long-standing Farm Service Agency rules that had capped many entity-based operations at a single payment limit.
