Soybeans rally on SA weather, export demand and seasonals and that supports corn and wheat. The lower dollar and MX corn biz was also positive. Poor chart action in cattle, while hogs bounce but are into resistance so can they keep going? Vince Boddicker, Farmers Trading Company, has more.
Soybeans Up on SA Weather, Export Demand, Corn and Wheat Follow: Poor Technical Action in Cattle, but Hogs End Higher
Soybeans rally on SA weather, export demand, which supports corn and wheat as well as MX biz. Poor chart action in cattle, while hogs bounce but are into resistance. Vince Boddicker, Farmers Trading Company, has more.
November 06, 2023 02:20 PM
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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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