Corn and soybeans open higher extending gains with help from export news but then hit resistance and see profit taking and farmer selling. Wheat trying to hold gains with China biz and the chart reversal. Cattle consolidate after working in higher cash. DuWayne Bosse, Bolt Marketing, has details.
Row Crops Hit Chart Resistance See Profit Taking, Wheat Tries to Hold Gains with China Biz: Cattle Consolidate
Corn and soybeans open higher then hit resistance, see profit taking and farmer selling. Wheat trying to hold gains with China biz. Cattle consolidate despite higher cash. DuWayne Bosse, Bolt Marketing, has more.
October 13, 2023 11:37 AM
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.
