Soybeans higher with new highs in meal, while wheat is pulling down the corn market on technical selling. Cattle continue to march higher with strong cash, but hogs can’t get traction with lagging cash and cutouts. Mark Schultz with Northstar Commodity has details.
Soybeans Rally with New Highs in Meal, Wheat Pulls Down Corn: Cattle Continue Strong
Soybeans up with new highs in meal, but wheat is pulling down the corn. Cattle higher with strong cash, but hogs can’t get traction with lagging cash and cutouts. Mark Schultz with Northstar Commodity has more.
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Chip Nellinger of Blue Reef Agri-Marketing says the soybean complex saw technical selling with funds still holding a sizable long in soybeans and meal.
Joe Kooima of Kooima Kooima Varilek says the bounce in cattle isn’t unexpected as Friday’s selloff may have been overdone and with the financial markets seeing a recovery.
The grain markets saw an ugly October with huge losses on fund selling. Brian Grete with CommStock Investments says he’s not sure if the fund selling is done.
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