Grains lower led by soybeans with rain chances for Brazil and some technical selling. Cattle see short covering ahead of the COF and recovering after the Tyson cyberattack. Hogs firm up with cattle but still rangebound. Vince Boddicker, Farmers Trading Company, has details.
Soybeans Lead Grains Lower on Brazil Rain Chances, Technical Selling: Cattle Bounce Before COF, Post Tyson Cyberattack
Soybeans pull grains lower with rain chances for Brazil and technical selling. Cattle see short covering pre-COF and after the Tyson cyberattack. Hogs firm. Vince Boddicker, Farmers Trading Company, has details.
November 17, 2023 11:37 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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