Grains mixed early with soybeans and meal seeing some profit taking after contract highs in meal. Crude oil and the equities lower after the CPI data showing inflation is still alive. Cattle also consolidate after contract highs in live cattle Monday. Darin Newsom of Barchart has details.
Soybeans and Meal Set Back on Profit Taking, Outside Markets React to CPI: Cattle Also Consolidate
Grains mixed early with soybeans and meal seeing some profit taking. Oil and the equities lower after the CPI data showing inflation is still alive. Cattle also consolidate. Darin Newsom of Barchart has details.
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Chip Nellinger of Blue Reef Agri-Marketing says the soybean complex saw technical selling with funds still holding a sizable long in soybeans and meal.
Joe Kooima of Kooima Kooima Varilek says the bounce in cattle isn’t unexpected as Friday’s selloff may have been overdone and with the financial markets seeing a recovery.
The grain markets saw an ugly October with huge losses on fund selling. Brian Grete with CommStock Investments says he’s not sure if the fund selling is done.
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