Grains bounce except corn which hits new contract lows on continued hedge pressure and liquidation before first notice day. Soybeans get help from 4.5 mb of export biz. Cattle try to recover but are funds done liquidating and milk prices continue to drift with lower product values. Bryan Doherty, Total Farm Marketing, covers it all.
Soybeans and Wheat See Corrective Buying, But Corn Hits New Lows on Liquidation, Hedge Pressure: Cattle Consolidate, Milk Drifts
Wheat & beans see corrective buying but corn hits new lows on hedge pressure, liquidation. Cattle consolidate but are funds done liquidating? Milk prices continue to drift. Bryan Doherty, Total Farm Marketing, has more.
November 28, 2023 09:21 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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