Soybeans see profit taking with Brazil rain, corn and wheat supported by export sales and corrective buying. Cattle 2-sided awaiting cash news but trying to forge a low, while hogs are quietly mixed. Chuck Shelby, Risk Management Commodities, has more.
Profit Taking Hit Beans, Pulls Corn and Wheat Off Highs: Cattle 2-Sided Awaiting Cash
Soybeans see profit taking w/Brazil rain, corn & wheat supported by export sales, corrective buying. Cattle 2-sided but trying to make a low, while hogs are mixed. Chuck Shelby, Risk Management Commodities, has more.
November 22, 2023 11:40 AM
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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.
Mark Schultz of North Star Commodity says the grain markets are oversold and due for a correction.
Naomi Blohm with Total Farm Marketing says the technical action is feeling like the market is probing for a low.
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