Soybeans make new lows for the move then bounce on short covering and report positioning. Technical selling in wheat also pulls down corn as well as harvest pressure. Cattle hit resistance and consolidate, while more fund liquidation hits the hogs. Tomm Pfitzenmaier, Summit Commodity Brokerage, has more.
Soybeans Bounce, Corn and Wheat Down on Report Positioning, Profit Taking: Cattle Consolidate, Funds Sell Hogs
Beans make new lows then see technical bounce and report positioning. Technical selling in wheat pulls down corn as well as harvest pressure. Cattle consolidate, funds sell hogs. Tomm Pfitzenmaier, Summit Commodity.
October 10, 2023 03:46 PM
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Oliver Sloup Blue Line Futures, says wheat prices skyrocketed adding risk premium on concerns about the escalating Black Sea war and the disruptions it is causing in the export market. It could have more upside left.
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