Soybeans lower with profit taking in meal and better SA weather. That’s weighing on corn, plus lower crude oil and SRW wheat. Cattle impressively extend gains with improved cash and chart action. Hogs up for the 4th day. Can livestock keep rallying? Kent Beadle, Paradigm Futures, has more.
Soybeans Fall with Meal and SA Weather, Corn Follows Lower CH Wheat and Crude Oil: Livestock Add to Gains but for How Long?
Soybeans lower with profit taking in meal and better SA weather. That’s weighing on corn, plus lower crude oil and SRW wheat. Livestock extend gains but for how long? Kent Beadle, Paradigm Futures, has more.
October 30, 2023 11:37 AM
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Scott Varilek with Kooima Kooima Varilek says the live cattle were overbought after rallying $21 off the lows.
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.
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