Soybeans see follow-through selling on WASDE hangover, corn rallies with wheat after holding support in the face of bearish report news, and has wheat finally bottomed? Cattle consolidating after new highs and with bearish CPI data. Allison Thompson, The Money Farm, has details.
Soybeans Lower, Corn Rallies with Wheat After Holding Support: Cattle Consolidate With Bearish CPI Data
Soybeans see more selling on WASDE hangover, corn rallies with wheat after holding support and has wheat finally bottomed? Cattle consolidate with bearish CPI data. Allison Thompson, The Money Farm, has more.
September 13, 2023 09:20 AM
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Corn and soybeans were lower on Thursday seeing further consolidation after hitting chart resistance and with the WASDE on Friday.
Grain markets were lower on Wednesday and to start Thursday, seeing profit taking after hitting key chart resistance and with cooler, wetter extended weather forecast for the Midwest. That’s according to Randy Martinson with Martinson Ag.
Live cattle futures were lower again on Wednesday and have spent several consecutive days under the 100-day moving average. Brad Kooima with Kooima Kooima Varilek says it is looking like more than a healthy correction.
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