Commodity wide selloff with a risk off day tied to U.S. and China economic news. Better than expected crop rating also took down corn and beans with corn closing below the July low. Allison Thompson, The Money Farm, has details.
Risk Off Melt Down in Commodities Tied to U.S. and China Economic News, Better Crop Ratings: Corn Closes Below July Low
Commodity selloff with a risk off day tied to U.S. and China economic news. Better than expected crop ratings hit corn and beans with corn closing below the July low. Allison Thompson, The Money Farm, has details.
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Don Roose of U.S. Commodities says talk of China buying U.S. corn and soybeans helped spur the rally, but it was a combination of factors.
Sam Hudson of Corn Belt Marketing says funds sold the early bounce in grain markets with no bullish story.
After a down day on Tuesday the grain markets were higher early Wednesday a result of short covering according to Lane Akre, economist with Pro Farmer. However, he thinks the market has also taken out too much weather premium.
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