Soybeans 2-sided with profit taking in meal but higher bean oil. Corn sees little follow through after the reversal, while wheat is mixed even with the sharply lower dollar on the CPI data. Cattle continue to correct pushed by the equities, while hogs see profit taking after running into chart resistance. Chip Nellinger, Blue Reef Agri-Marketing has more.
Soybeans 2-Sided with Product Tug of War, Disappointing Follow Through on Corn Reversal: Cattle Correction Continues
Soybeans 2-sided with mixed products. Corn disappoints after the reversal, wheat mixed. Cattle correct with equities; hogs see profit taking. Chip Nellinger, Blue Reef Agri-Marketing has more.
November 14, 2023 12:04 PM
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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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