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
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Brian Grete with Commstock Investments says, “We’ve seen China come in and be a fairly active buyer over the past several weeks here of new crop U.S. soybeans. There was more talk of that on Friday. And so that gave us some price support.”
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