Commodity wide technical selling Monday pushed corn, wheat and hog contacts into new lows. Cattle also saw massive fund liquidation. But what was the catalyst? Chuck Shelby, Risk Management Commodities, has analysis and talks about the next chart support areas.
New Lows in Corn, Wheat and Hogs on Commodity Wide Selling: Cattle Also See Fund Liquidation
Commodity wide technical selling Monday pushed corn, wheat and hog contacts into new lows. Cattle also saw fund liquidation. But what was the catalyst? Chuck Shelby, Risk Management Commodities, has analysis.
November 27, 2023 02:12 PM
Related Stories
Dan Basse, president of Ag Resource Company, says he thinks the soybean market put in a bottom earlier in the week.
Scott Varilek with Kooima Kooima Varilek says the live cattle were overbought after rallying $21 off the lows.
Sam Hudson of Cornbelt Marketing says soybeans bounced as harvest pressure is subsiding and that should allow a bottom to be forged, especially with China buying.
Read Next
NASS identified a processing error affecting September corn data for Kansas, Nebraska and national figures. The agency says its October forecast of 181.2 bu. per acre remains unchanged, leaving questions about the yield jump.
Commodity Market Futures
Futures prices on grains, livestock, oil and more
Farm Journal TV
Trusted ag insights and real stories from rural America. Start your free trial today.
Pro Farmer
Join Pro Farmer today to access trusted market intelligence and expert analysis that help you make more confident decisions.
