Soybeans see light corrective buying but is the Brazil weather story done? Corn hits new contract lows and tries to bounce, wheat sees more technical selling with a higher dollar. Cattle see profit taking with lower boxed beef, hogs make more contract lows. Mark Schultz, Northstar Commodity, has more.
Soybeans Bounce, Corn Tries After Contract Lows: Livestock in the Red
Soybeans see light corrective buying, while corn hits new contract lows and tries to follow. Cattle see profit taking with lower boxed beef, hogs make more contract lows. Mark Schultz, Northstar Commodity, has more.
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Naomi Blohm with Total Farm Marketing says the technical action is feeling like the market is probing for a low.
Brad Kooima with Kooima Kooima Varilek says the charts look positive but he thinks a healthy correction is in store. He’s also skeptical about USDA’s new cash report.
DuWayne Bosse of Bolt Marketing says the managed money traders have hit the sell button with charts taking out key support and they may not stop until harvest reaches 60% to 70% done.
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