Soybeans Fall on Brazil Rain Forecast, Pulls Down Corn, While Wheat Bounces: Cattle Mixed Await Cash, COF

Soybeans fall on Brazil rain forecasts pulling down corn, plus U.S. MX rail issue. Wheat sees corrective buying. Cattle mixed awaiting COF & cash, hogs fall w/LHI. Vince Boddicker, Farmers Trading Company, has more.

Soybeans fall with Brazil rain forecasts pulling down corn, as well as the closure of the Mexican border to rail shipments. Wheat sees corrective buying on Red Sea developments. Cattle are mixed awaiting COF and cash, hogs fall with lower LHI & cutouts. Vince Boddicker, Farmers Trading Company, has details.

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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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