Soybeans See Corrective Buying, Fund Selling and Ratings Hit Wheat, Corn Stuck: Cattle Consolidating Under Chart Resistance

Wheat hits new lows in KC on fund selling, crop ratings, talk of Russia lowering its export tax. Row crops up on corrective buying. Cattle consolidating under chart resistance. Kevin Duling, KD Investors has more.

Wheat hits new lows in KC on technical selling, better crop ratings than 2022 and talk of Russia lowering its export tax. Corn and beans higher on corrective buying, a Mexican bean sale, higher meal and watching SA weather. Cattle still consolidating but nearing chart resistance. Kevin Duling, KD Investors has more.

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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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